Jane D.

asked • 01/29/21

i need some help

Sydney invests $100 every month into an account that pays 5% annual interest, compounded monthly. Benny invests $80 every month into an account that pays 8% annual interest rate, compounded monthly.


*Determine the amount in Sydney’s account after 10 years.


*Determine the amount in Benny’s account after 10 years.


*Who had more money in the account after 10 years?


*Determine the amount in Sydney’s account after 20 years.


*Determine the amount in Benny’s account after 20 years.


*Who had more money in the account after 20 years?


Julie P.

tutor
Hi Jane, Now that I gave you the formula, can you work on your other problems?
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01/29/21

1 Expert Answer

By:

Mark M. answered • 01/29/21

Tutor
5.0 (278)

Mathematics Teacher - NCLB Highly Qualified

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