Mathematics

23 April, 11:31

Davis puts $5,000 each year in an account that earns 5% annual interest, compounded annually. His brother Mike puts $5,000 each year in a safe in his bedroom. After the first 10 years of doing this, how much more money does Davis have than Mike? Round your answer to the nearest dollar.

A) $20,524

B) $2,500

C) $31,445

D) $8,144

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