Luke invests $4200 in an account that has an annual interest

Last updated: 7/16/2022

Luke invests $4200 in an account that has an annual interest rate of 2.8% compounded semi-annually. Todd invests $3900 into an account that has an annual interest rate of 3.3% and is compounded continuously. After 8 years what is the difference between the two accounts? Todd has approximately $1.361 more in his account than Luke after 8 years. Luke has approximately $168 more in his account than Todd after 8 years. Luke has approximately $300 more in his account than Todd after 8 years. Both Todd and Luke have the same amount of money in their accounts after 8 years.