Faith invested $81,000 in an account paying an interest rate of 2 frac{3}{8}2 8 3 % compounded continuously. Owen invested $81,000 in an account paying an interest rate of 2 frac{1}{2}2 2 1 % compounded annually. After 7 years, how much more money would Owen have in his account than Faith, to the nearest dollar?

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Mathematics, 22.01.2021 02:50 Kurlyash

Faith invested $81,000 in an account paying an interest rate of 2\tfrac{3}{8}2 8 3 % compounded continuously. Owen invested $81,000 in an account paying an interest rate of 2\tfrac{1}{2}2 2 1 % compounded annually. After 7 years, how much more money would Owen have in his account than Faith, to the nearest dollar?

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