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1 March, 23:42

Herky and Elaina want to compare their investment accounts to see how much they will have in the accounts after eight years. They substitute their values shown below into the compound interest formula.

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  1. 1 March, 23:51
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    Herky: 500 (1+.05) ^8, Elaina: 400 (1+.06) ^8
  2. 1 March, 23:53
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    Herky. after 8 years will have

    500 (1.05) ^8 = $738.73

    Elaine:-

    400 (1.06^8 = $ 637.54
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