how much more money would Aria have in her account than Tyler, to the nearest dollar?

Question

Tyler invested $47,000 in an account paying an interest rate of 8\tfrac{7}{8}8 8 7 % compounded continuously. Aria invested $47,000 in an account paying an interest rate of 9\tfrac{3}{8}9 8 3 % compounded monthly. After 18 years, how much more money would Aria have in her account than Tyler, to the nearest dollar

Answer 1

At=47ke^18(.087)= about $225,010.6

Aa= 47k(1+.083/12)^(12(18))=about $208,305.3

At-Aa= how much more Tyler gets in 18 years

= about $225010.60 - $208305.3

= about $16,705 more for tyler