Josie is a saver. Each month, she deposits $300 in a savings account at the bank that yields an annual interest rate of 2.25%. Sarah is also a saver, and also a shrewd investor. She also saves $300 each month, but invests hers is a Mutual Fund that yields 5.5% annual interest. Use the investment calculator below in order to calculate how much more money Sarah will have than Josie after 5 years. Investment Calculator $1,691 : $1,906 : $2,076

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...
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Josie is a saver. Each month, she deposits $300 in a savings account at the bank that yields an annual interest rate of 2.25%. Sarah is also a saver,
and also a shrewd investor. She also saves $300 each month, but invests hers is a Mutual Fund that yields 5.5% annual interest. Use the investment
calculator below in order to calculate how much more money Sarah will have than Josie after 5 years.
Investment Calculator
$1,691
: $1,906
: $2,076
2
4 5 6
8
10
BReview
C
Transcribed Image Text:Josie is a saver. Each month, she deposits $300 in a savings account at the bank that yields an annual interest rate of 2.25%. Sarah is also a saver, and also a shrewd investor. She also saves $300 each month, but invests hers is a Mutual Fund that yields 5.5% annual interest. Use the investment calculator below in order to calculate how much more money Sarah will have than Josie after 5 years. Investment Calculator $1,691 : $1,906 : $2,076 2 4 5 6 8 10 BReview C
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