Question

Camden invested $680 in an account paying an interest rate of 2 1/4% compounded daily. Jayden invested $680 in an account paying an interest rate of 2 5/8% compounded continuously. After 19 years, how much more money would Jayden have in his account than Camden, to the nearest dollar?

Answer 1

Answer: $3,261.

Explanation:

The answer is $3,261. Jayden would have more money in his account than Camden because his account pays a higher interest rate and is compounded continuously, which allows more frequent compounding of interest. This means that Jayden's account accumulates more interest than Camden's account over time.

Answer 2

Answer:690

Explanation:

690