Gugusunset12 Gugusunset12

07-05-2024
Mathematics

Answered

Benjamin invested $99,000 in an account paying an interest rate of 7, one half7 2 1 % compounded continuously. Zachary invested $99,000 in an account paying an interest rate of 7, start fraction, 7, divided by, 8, end fraction7 8 7 % compounded quarterly. To the nearest hundredth of a year, how much longer would it take for Benjamin's money to triple than for Zachary's money to triple?

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