Rosa invests $3000 in an account with an APR of 4% and annual compounding.  Julian invests $2500 in an account with an APR for 5% an annual compounding a) Create a table in Excel with the first column years and the second column  Rosas account and the third column Julian’s account. Carry out the table  for at least 20 years b) Use the table to determine the balance on each account after 5 years and  20 years c) Determine, for each account at 5 and 20 years, the amount of the balance  that is interest? d) After how many years will Julian have more money than Rosa

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.3: Geometric Sequences
Problem 81E
icon
Related questions
Question

4.

Rosa invests $3000 in an account with an APR of 4% and annual compounding. 
Julian invests $2500 in an account with an APR for 5% an annual compounding


a) Create a table in Excel with the first column years and the second column 
Rosas account and the third column Julian’s account. Carry out the table 
for at least 20 years


b) Use the table to determine the balance on each account after 5 years and 
20 years


c) Determine, for each account at 5 and 20 years, the amount of the balance 
that is interest?


d) After how many years will Julian have more money than Rosa

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning