Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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Consider the pair of savings plans below. Compare the balances in each plan after 13 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Assume that the compounding and payment periods are the same for each pair.
George deposits $60 per month in an account with an APR of 5%, while Harvey deposits $190 per quarter in an account with an APR of 5.5%.
The balance in George's account is how much money?(Round to nearest tenth if needed)
The balance in Harvey's account is how much money?(Round to nearest tenth if needed)
How much did George deposit?
How much did Harvey deposit?
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