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28-11-2021
Mathematics

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Owen invested $81,000 in an account paying an interest rate of 3\tfrac{7}{8}3 8 7 % compounded continuously. Zoe invested $81,000 in an account paying an interest rate of 3\tfrac{1}{4}3 4 1 % compounded monthly. After 9 years, how much more money would Owen have in his account than Zoe, to the nearest dollar?

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mclemons206449 mclemons206449

30-01-2022

Answer: $6322

114800.8806 - 108478.6929

= 6322.1877

Rounded to the nearest dollar = $6322

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