Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel invested $81,000 in an account paying an interest rate of 7% compounded quarterly. After 16 years, how much more money would Angel have in his account than Jackson, to the nearest dollar?

Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel invested $81,000 in an account paying an interest rate of 7% compounded quarterly. After 16 years, how much more money would Angel have in his account than Jackson, to the nearest dollar?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 2CYU

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Jackson invested $81,000 in an account paying an interest rate of 6% compounded
monthly. Angel invested $81,000 in an account paying an interest rate of 7-%
compounded quarterly. After 16 years, how much more money would Angel have in
his account than Jackson, to the nearest dollar?
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