$5000 is divided between two accounts. The first earns 3% annual interest compounded monthly, and the second earns 4% annual interest compounded quarterly. What is the difference in the value of each account after 10 years? $793 $698 $934 $804 $457 а. b. с. d. е.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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$5000 is divided between two accounts. The first earns 3% annual interest compounded
monthly, and the second earns 4% annual interest compounded quarterly. What is the
difference in the value of each account after 10 years?
$793
$698
$934
$804
$457
а.
b.
с.
d.
е.
Transcribed Image Text:$5000 is divided between two accounts. The first earns 3% annual interest compounded monthly, and the second earns 4% annual interest compounded quarterly. What is the difference in the value of each account after 10 years? $793 $698 $934 $804 $457 а. b. с. d. е.
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