Melanie invested $3,800 in an account paying an interest rate of 2% compounded
quarterly. Sebastian invested $3,800 in an account paying an interest rate of 2%
compounded monthly. After 6 years, how much more money would Sebastian have in
his account than Melanie, to the nearest dollar?

Question

06-03-2021
Mathematics

Answered

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Melanie invested $3,800 in an account paying an interest rate of 2% compounded
quarterly. Sebastian invested $3,800 in an account paying an interest rate of 2%
compounded monthly. After 6 years, how much more money would Sebastian have in
his account than Melanie, to the nearest dollar?

Sagot :

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