Question

Charlotte invested $730 in an account paying an interest rate of 3≥% compounded continuously. Khalil invested $730 in an account paying an interest rate of 33 % compounded daily. After 8 years, how much more money would Khalil have in his account than Charlotte, to the nearest dollar?

Answer 1

Khalil would have $1,845 more than Charlotte, to the nearest dollar.

Explanation: