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11 votes
11 votes
Alexandra invested $610 in an account paying an interest rate of 7 3/8% compounded

daily. Madeline invested $610 in an account paying an interest rate of 7 7/8%

compounded continuously. After 16 years, how much more money would Madeline

have in her account than Alexandra, to the nearest dollar?

User Miro
by
3.0k points

1 Answer

17 votes
17 votes

Exact answer: 165.5754

Rounded to the nearest dollar: 166

User Bogdan Lukiyanchuk
by
3.1k points