Question

Fiona invested $1100 at 8% compound comtinously. At the same time, Maria ivested $1200 at 8% compounded daily. How long will it take for their investments to be equal in value?

Answer 1

after x years, the two amounts will be equal:

1100*e^.08x = 1200*(1+.08/365)^(365x)
x = 9926.18535