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Joshua invested $99,000 in an account paying an interest rate of 4÷% compounded continuously. Melanie invested $99,000 in an account paying an interest rate of 4%% compounded quarterly. After 16 years, how much more money would Melanie have in her account than Joshua, to the nearest dollar?

Joshua invested $99,000 in an account paying an interest rate of 4÷% compounded continuously. Melanie invested $99,000 in an account paying an interest rate of 4%% compounded quarterly. After 16 years, how much more money would Melanie have in her account than Joshua, to the nearest dollar?

Calculus: Early Transcendentals
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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Joshua invested $99,000 in an account paying an interest rate of 4÷% compounded continuously. Melanie invested $99,000 in an account paying an interest rate of 42% compounded quarterly. After 16 years, how much more money would Melanie have in her account than Joshua, to the nearest dollar?
Transcribed Image Text:Joshua invested $99,000 in an account paying an interest rate of 4÷% compounded continuously. Melanie invested $99,000 in an account paying an interest rate of 42% compounded quarterly. After 16 years, how much more money would Melanie have in her account than Joshua, to the nearest dollar?
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