Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel invested $81,000 in an account paying an interest rate of 7% compounded quarterly. After 16 years, how much more money would Angel have in his account than Jackson, to the nearest dollar?

Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel invested $81,000 in an account paying an interest rate of 7% compounded quarterly. After 16 years, how much more money would Angel have in his account than Jackson, to the nearest dollar?

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter6: Systems Of Equations And Inequalities

Section: Chapter Questions

Problem 17PS: Cholesterol Cholesterol in human blood is necessary, but too much can lead to health problems. There...

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Jackson invested $81,000 in an account paying an interest rate of 6% compounded
monthly. Angel invested $81,000 in an account paying an interest rate of 7-%
compounded quarterly. After 16 years, how much more money would Angel have in
his account than Jackson, to the nearest dollar?
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