Angela and Brian have $1000 each and plan to put it into an account earning interest compounded continuously. Bank A offers 2.7% interest. Bank B offers 1.5% interest but will give everyone a $100 bonus at the beginning. (That $100 also gets deposited in the account and earns interest). If Angela puts her money in Bank A and Brian puts his in account B, when will they have the exact same amount in their accounts? Give an exact answer.

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Angela and Brian have $1000 each and plan to put it into an account earning interest
compounded continuously. Bank A offers 2.7% interest. Bank B offers 1.5% interest but
will give everyone a $100 bonus at the beginning. (That $100 also gets deposited in the
account and earns interest). If Angela puts her money in Bank A and Brian puts his in
account B, when will they have the exact same amount in their accounts? Give an exact
answer.
Transcribed Image Text:Angela and Brian have $1000 each and plan to put it into an account earning interest compounded continuously. Bank A offers 2.7% interest. Bank B offers 1.5% interest but will give everyone a $100 bonus at the beginning. (That $100 also gets deposited in the account and earns interest). If Angela puts her money in Bank A and Brian puts his in account B, when will they have the exact same amount in their accounts? Give an exact answer.
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