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Jose invested 50000 for 2 years at an annual interest rate of 4 percent compounded yearly. Patricia invested 50000 for the same period of time, at the same interest rate, but the interest was compounded quarterly. To the nearest dollar, how much more money did Patricia's investment earn than that of Jose?

 Jun 2, 2020
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John     50 000 (1 + .04)^2 = 54080.00

Patricia 50000  (1+.01)^8 = 54142.84                You can finish......cheeky

 Jun 2, 2020

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