Cedric has deposited 12,000 into an account that pays 5% interest compounded annually.
Daniel has deposited 12,000 into an account that pays 9% simple annual interest.
In 15 years Cedric and Daniel compare their respective balances. To the nearest dollar, what is the positive difference between their balances?
+36915 Cedric in 15 years 12000 (1.05)15 = $ .........
Daniel 12000 + 12000(.09)(15) = $........
