Question

Did I get this Right!!

Libby invested $1150 at 5.5% annual interest rate compound quarterly. At the same bank, Laura invests $1310 at 4.0% annual interest rate compounded continuously. Who has more money at the end of 10 years and how much more does she have?
- Libby and she has $1985.79

Answer 1

what was your process?

Answer 2

I used the formula A= P(1=r/n)^nt for Libby and the formula A=Pe^rt for Laura.

Answer 3

You calculated Libbys amount after 10 years .... but that is not what the question asks for

Answer 4

http://www.wolframalpha.com/input/?i=1150%281%2B.055%2F4%29%5E%284*10%29

libby has a balance of about: 1985.78

laura has a balance of about: 1954.26

libby has more, but how much more?

Answer 5

I dont get it. They asked who had more money after ten years and how much they had. Wouldnt the answer be Libby and that she had $1985.78?

Answer 6

Who has more money at the end of 10 years

and

how much more does she have?
^^^^^^^^^

Answer 7

if you have 3 jelly beans, and someone else has 5 jellybeans

how many more jelly beans does the other person have than you?

Answer 8

That person has 2 more jelly beans than i do. . . .

Answer 9

yeah :) libby has how much more money than luara

Answer 10

I know. I'm sure i said Libby has more money than Laura.

Answer 11

yeah ... she does. and how much more does she have than luara? its not 1985 more ....

Answer 12

Oh is it . . . . $31.52.