Mathematics, 13.08.2019 05:20 gerardoleal1414
When the thompson's have their first child, will, they decide to begin a college savings account for him by depositing $350.00 into an interest-bearing savings account. will's account is continuously compounded at a fixed rate of 3.4%. three years later, the thompson's have a second child, sarah, and they also decide to begin a college savings account for her by depositing $350.00 into an interest-bearing savings account. sarah's account is continuously compounded at a higher fixed rate of 5.1%. after the initial deposit into each account, the thompson's do not withdraw or deposit any money into either account. how many years will it take, since the initial deposit into sarah's account, for the balance of sarah's account to be greater than the balance of will's account?
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When the thompson's have their first child, will, they decide to begin a college savings account for...
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