Kayla invested $88,000 in an account paying an interest rate of 8% compounded daily. Sadie invested $88,000 in an account paying an interest rate of 8% compounded quarterly. After 16 years, how much more money would Sadie have in her account than Kayla, to the nearest dollar?
Kayla invested $88,000 in an account paying an interest rate of 8% compounded daily. Sadie invested $88,000 in an account paying an interest rate of 8% compounded quarterly. After 16 years, how much more money would Sadie have in her account than Kayla, to the nearest dollar?
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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