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MAAAATTTTHHHHHH

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Franco invests some money at 6.9%/a compounded annually and David
invests some money at 6.9%/a compounded monthly. After 30 years, each
investment is worth $25 000. Who made the greater original investment and
by how much?

  • MAAAATTTTHHHHHH -

    Franco:
    f(1.069)^30 = 25000
    f = 3377.60
    David:
    d(1.00575)^360 = 25000
    d = 3173.40

  • MAAAATTTTHHHHHH -

    The difference between Franco and David is 173.25

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