27.4k views
5 votes
Abigail invested $130 in an account paying an interest rate of 4 5 8 4 8 5 ​ % compounded continuously. Hunter invested $130 in an account paying an interest rate of 4 7 8 4 8 7 ​ % compounded daily. To the nearest hundredth of a year, how much longer would it take for Abigail's money to triple than for Hunter's money to triple?

User Schnapz
by
8.2k points

1 Answer

1 vote

Answer: 1.22 years

Step-by-step explanation: see photos attached.

Abigail invested $130 in an account paying an interest rate of 4 5 8 4 8 5 ​ % compounded-example-1
Abigail invested $130 in an account paying an interest rate of 4 5 8 4 8 5 ​ % compounded-example-2
Abigail invested $130 in an account paying an interest rate of 4 5 8 4 8 5 ​ % compounded-example-3
User Davarisg
by
8.2k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories