Respuesta :
Hi there
The formula is
A=p (1+r/k)^(kt)
A future value
P present value
R interest rate
K compounding period
T time
Aubrey investment
P 5400
r 1+1/2=1.5%
K compounded monthly 12
T time 17 years
A=5,400×(1+0.015÷12)^(12×17)
A=6,967.38
William investment
P 5400
R 7/8=0.875÷100=0.00875
K compounded daily 360
T time 17 years
A=5,400×(1+0.00875÷360)^(360×17)
A=6,266.06
So how much more money would Aubrey have in her account than William
6,967.38−6,266.06
=701.32
Hope it helps
The formula is
A=p (1+r/k)^(kt)
A future value
P present value
R interest rate
K compounding period
T time
Aubrey investment
P 5400
r 1+1/2=1.5%
K compounded monthly 12
T time 17 years
A=5,400×(1+0.015÷12)^(12×17)
A=6,967.38
William investment
P 5400
R 7/8=0.875÷100=0.00875
K compounded daily 360
T time 17 years
A=5,400×(1+0.00875÷360)^(360×17)
A=6,266.06
So how much more money would Aubrey have in her account than William
6,967.38−6,266.06
=701.32
Hope it helps