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Chang deposits $14,000 into an account that earns 3% interest compounded monthly for 10 years. Sheila deposits $14,000 into an account that earns 21% interest compounded monthly …

Chang deposits $14,000 into an account that earns 3% interest compounded monthly for 10 years. Sheila deposits $14,000 into an account that earns 21% interest compounded monthly …
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Chang deposits $14,000 into an account that earns 3% interest compounded monthly for 10 years. Sheila deposits $14,000 into an account that earns 21% interest compounded monthly for 10 years. How much more interest does Sheila earn than Chang over the course of the investment?

User Amit Gujarathi
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1 Answer

2 votes

Answer:

Sheila earns $86,186.62 more in interest than Chang.

User Asjer
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