Benjamin deposits $3,000 into each of two savings accounts. The first savings account pays 5% interest compounded annually. The second savings account pays 5% simple interest annually. If Benjamin makes no other deposits or withdrawals, what will be the difference between the interest earned by the two savings accounts after 4 years? Select one O $46.52
O $28.8.
O$646.52
O 53.046.52

the answer is 175.4379

step-by-step explanation:

step-by-step explanation:

the original amount doesn't ''re just looking for the time it takes for 1/2 of the substance to we have

(1/2) =)     take the ln   of both sides

ln (1/2)   = )   and we can write

ln(1/2) = ) lne     and lne   = 1     so we have

ln(1/2) = -.1092t     divide both sides by -.1092

t = ln(1/2)/-.1092 = about 6.347 days = about 6.3 days (rounded)

24

step-by-step explanation: