Rosa invests $3000 in an account with an APR of 4% and annual compounding. Julian invests $2500 in an account with an APR for 5% an annual compounding a) Create a table in Excel with the first column years and the second column Rosas account and the third column Julian’s account. Carry out the table for at least 20 years b) Use the table to determine the balance on each account after 5 years and 20 years c) Determine, for each account at 5 and 20 years, the amount of the balance that is interest? d) After how many years will Julian have more money than Rosa

Rosa invests $3000 in an account with an APR of 4% and annual compounding. Julian invests $2500 in an account with an APR for 5% an annual compounding a) Create a table in Excel with the first column years and the second column Rosas account and the third column Julian’s account. Carry out the table for at least 20 years b) Use the table to determine the balance on each account after 5 years and 20 years c) Determine, for each account at 5 and 20 years, the amount of the balance that is interest? d) After how many years will Julian have more money than Rosa

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

Rosa invests $3000 in an account with an APR of 4% and annual compounding.
Julian invests $2500 in an account with an APR for 5% an annual compounding

a) Create a table in Excel with the first column years and the second column
Rosas account and the third column Julian’s account. Carry out the table
for at least 20 years

b) Use the table to determine the balance on each account after 5 years and
20 years

c) Determine, for each account at 5 and 20 years, the amount of the balance
that is interest?

d) After how many years will Julian have more money than Rosa

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