Person A deposits $2700 in an account that pays 5% interest compounded once a year. Person B deposits $2550 in an account that

Question

Person A deposits $2700 in an account that pays 5% interest compounded once a year. Person B deposits $2550 in an account that pays 6% interest compounded monthly. Complete parts (a) through (c) below.
a. Who will have more money in their account after one year? How much more? Select the correct choice below and fill in the answer box within your choice.
(Round to the nearest dollar as needed.)
A. Person A will have $ more than Person B.
B. Person B will have $ more than Person A.

Kunduz · Accepted Answer

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