Question

Gianna invested $45,000 in an account paying an interest rate of 6 8 1 % compounded quarterly. Bella invested $45,000 in an account paying an interest rate of 6 8 3 % compounded continuously. To the nearest dollar, how much money would Gianna have in her account when Bella's money has doubled in value?

Answer 1

The proportion would always be triple the return for continuous interest, in 14 months she would double the amount in her account, while Gianna would have 28% more in her account than she had at the beginning.

What interest continue?

Compound Interest is calculated taking into account the updating of the capital, that is, the interest is levied not only on the initial value, but also on the accrued interest (interest on interest).

This type of interest, also called “accumulated capitalization”, is widely used in commercial and financial transactions (whether debts, loans or investments).

With this information, we can conclude that the proportion would always be triple the return for continuous interest, in 14 months she would double the amount in her account, while Gianna would have 28% more in her account than she had at the beginning.

Learn more about Compound Interest in brainly.com/question/14295570

#SPJ1