5) Juan and Carlo both deposit $500 into savings accounts on the same day. Juan's account earns him 2.570 interest compounded annually. He keeps his money in the account for 3 years, Carlo's account earns
him 3.9% annual interest compounded monthly. He keeps his money in the account for 2 years.
a) who do you think will have more money when they close their accounts? Explain your answer.
b) who has more money after closing their accounts? How much more money does this person have than
the other? Show your work
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