Posted by Gloria Hopson
on 3/27/2008, 1:41 pm
68.107.147.23
Question: You deposit $1500 in each of two savings accounts. (One annual interest rate of 6.05% compunded monthly and the other an annual interest rate of 6.1% compounded continuously) How long would it take for the balance in one of the accounts to exceed the balance in the other account by $125? By $100,000?
This is from a worksheet and I'm not sure how to go about answering it.
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