The following pair of investment plans are identical except

Last updated: 7/21/2022

The following pair of investment plans are identical except for a small difference in interest rates. Compute the balance in the accounts after 10 and 30 years. Discuss the difference. Chang invests $1100 in a savings account that earns 4.5% compounded annually. Kio invests $1100 in a different savings account that earns 4.75% compounded annually. After 10 years Chang will have a balance of approximately $. After 30 years Chang will have a balance of approximately $ (Round to the nearest cent as needed.)