Raj made an initial deposit of $200 into a bank account that earns 4 percent interest, compounded annually. In order to calculate the value of the account after n years, he uses the expression 200(r)" Cynthia made an initial deposit of $200 into a different bank account at the same time that Raj made his deposit. Cynthia's account earns 4.1 percent interest, compounded annually. After 10 years, how much more money will Cynthia's initial deposit have earned compared to Raj's initial deposit? (Round your answer to the nearest cent and ignore the dollar sign when gridding your response.)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter7: Systems Of Equations And Inequalities
Section7.2: Systems Of Linear Equations: Three Variables
Problem 63SE: You inherit one million dollars. You invest it all in three accounts for one year. The first account...
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Raj made an initial deposit of $200 into a bank account that earns 4 percent interest, compounded annually. In order to calculate the value of the account after n years, he uses
the expression 200(7)"
Cynthia made an initial deposit of $200 into a different bank account at the same time that Raj made his deposit. Cynthia's account earns 4.1 percent interest, compounded
annually. After 10 years, how much more money will Cynthia's initial deposit have earned compared to Raj's initial deposit? (Round your answer to the nearest cent and ignore
the dollar sign when gridding your response.)
Transcribed Image Text:Raj made an initial deposit of $200 into a bank account that earns 4 percent interest, compounded annually. In order to calculate the value of the account after n years, he uses the expression 200(7)" Cynthia made an initial deposit of $200 into a different bank account at the same time that Raj made his deposit. Cynthia's account earns 4.1 percent interest, compounded annually. After 10 years, how much more money will Cynthia's initial deposit have earned compared to Raj's initial deposit? (Round your answer to the nearest cent and ignore the dollar sign when gridding your response.)
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