Gabriel invested $77,000 in an account paying an interest rate of 3 1/2% compounded monthly. Isabella invested $77,000 in an account paying an interest rate of 4 1/8% compounded quarterly. After 6 years, how much more money would Isabella have in her account than Gabriel, to the nearest dollar?

WE know, compound interest is given by :

Here, P is principle amount.

r is annual interest rate.

n, number of times that interest is compounded per unit t .

t, time the money is invested or borrowed for.

To Find :

How much more money would Isabella have in her account than Gabriel, to the nearest dollar.

Solution :

Hence, this is the required solution.

2 x 503

step-by-step explanation:

its 1006