Mathematics, 07.01.2021 21:00 austinlogan3218

Mr. Charles gave each of his sons, Joe and Bill, $5,000. Joe deposited the money in an account that offered simple interest of 11% per year. Bill deposited the money in a
bank that offered an interest of 9% compounded annually. Who would be wealthier
at the end of 6 years and by how much?

Answers: 2

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Mr. Charles gave each of his sons, Joe and Bill, $5,000. Joe deposited the money in an account that offered simple interest of 11% per year. Bill deposited the money in a bank that offered an interest of 9% compounded annually. Who would be wealthier at the end of 6 years and by how much?

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Another question on Mathematics

Mr. Charles gave each of his sons, Joe and Bill, $5,000. Joe deposited the money in an account that offered simple interest of 11% per year. Bill deposited the money in a
bank that offered an interest of 9% compounded annually. Who would be wealthier
at the end of 6 years and by how much?