14. John and Randy are competing to see who can accumulate more money. They are both given $100 to deposit into an account and see who has more after a year. John decides to deposit his whole amount...


14. John and Randy are competing to see who can<br>accumulate more money. They are both given $100 to<br>deposit into an account and see who has more after a<br>year. John decides to deposit his whole amount into an<br>account that pays interest at a rate of 3%, compounded<br>continuously and withdraws it at the end of the year.<br>Randy puts his money into an account that earns<br>interest at 3% compounded semiannually, and after half<br>a year, pulls ut all his moncy and puts it in another<br>account that earns interest at 4% compounded<br>semiannually, Who has more money at the end of the<br>year, and by how much?<br>

Extracted text: 14. John and Randy are competing to see who can accumulate more money. They are both given $100 to deposit into an account and see who has more after a year. John decides to deposit his whole amount into an account that pays interest at a rate of 3%, compounded continuously and withdraws it at the end of the year. Randy puts his money into an account that earns interest at 3% compounded semiannually, and after half a year, pulls ut all his moncy and puts it in another account that earns interest at 4% compounded semiannually, Who has more money at the end of the year, and by how much?

Jun 10, 2022
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