How much more would you earn in the first investment than in the second investment? $22 comma 000 invested for 30 years at 12% compounded annually $22 comma 000 invested for 30 years at 6% compounded annually You would earn $ nothing more on the first investment than in the second investment. (Round to the nearest dollar as needed.)

Therefore I would earn $532,761 more on the first investment than in the second investment.

Step-by-step explanation:

The formula of compound interest

Compound interest

A= Amount after n years

P= Principal

r=Rate of interest

n= Number of years

First investment,

P₁=$22,000, r=12%=0.12 and n=30 years

    =659,118.28

   ≈$659,118

= -P₁

  =$(659,118-22,000)

 =$637,118

Second investment,

P₂=$22,000, r=6%=0.06 and n=30 years

    =126,356.81

   ≈$126,357

= -P₂

  =$(126,357-22,000)

  =$104357

=$(637,118-104,357)

=$532,761

Therefore I would earn $532,761 more on the first investment than in the second investment.

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