Franco invests some money at 6.9%/a compounded annually and David

Question

invests some money at 6.9%/a compounded monthly. After 30 years, each
investment is worth $25 000. Who made the greater original investment and
by how much?

Answer 1

Franco:
f(1.069)^30 = 25000
f = 3377.60
David:
d(1.00575)^360 = 25000
d = 3173.40

Answer 2

The difference between Franco and David is 173.25

Answer 3

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