Suppose one bank account pays 9% annual interest compounded once per year, and a second bank account pays 10% annual interest compounded continuously. If both bank accounts start with the same initial amount, how many years will it take for the second bank account to contain 50% more than the first bank account?

Question

Quizplus · Accepted Answer

The Answer of Suppose one bank account pays 9% annual interest compounded once per year, and a second bank account pays 10% annual interest compounded continuously. If both bank accounts start with the same initial amount, how many years will it take for the second bank account to contain 50% more than the first bank account?

Suppose One Bank Account Pays 9% Annual Interest Compounded Once