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Joey and Magaly both deposited their birthday money into accounts at the bank. Joey deposited $400 into an account that earns 7% interest compounded annually . Who will have a higher ending balance after
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Joey and Magaly both deposited their birthday money into accounts at the bank. Joey deposited $400 into an account that earns 7% interest compounded annually . Who will have a higher ending balance after 5 years? By how much more money ?

User Dishan TD
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1 Answer

2 votes

Answer:

Magaly will have $25.96 more than Joey after 5 years

Explanation:

User Jyothi Babu Araja
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