Dominic invested $9,400 in an account paying an interest rate of 4 frac{7}{8}4 8 7 % compounded continuously. Alexandra invested $9,400 in an account paying an interest rate of 4 frac{3}{8}4 8 3 % compounded quarterly. After 16 years, how much more money would Dominic have in his account than Alexandra, to the nearest dollar?

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Mathematics, 07.05.2020 02:59 izzyp619

Dominic invested $9,400 in an account paying an interest rate of 4\tfrac{7}{8}4 8 7 % compounded continuously. Alexandra invested $9,400 in an account paying an interest rate of 4\tfrac{3}{8}4 8 3 % compounded quarterly. After 16 years, how much more money would Dominic have in his account than Alexandra, to the nearest dollar?

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Dominic invested $9,400 in an account paying an interest rate of 4\tfrac{7}{8}4 8 7 % compounded co...

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