Klein Lindsey
01/08/2024 · Primary School
Trish invests \( \$ 6,000 \) in her IRA in a bond trust that pays \( 8 \% \) interest compounded semiannually. Sean invests \( \$ 6,000 \) in his IRA in a certificate of deposit that pays \( 7.9 \% \) compounded continuously. Who has more money after 20 years, Trish or Sean? After 20 years, Trish will have \( \$ \square \). (Round to the nearest cent as needed.) After 20 years, Sean will have \( \$ \square \). (Round to the nearest cent as needed.) After 20 years, \( \square \) will have more money.
Upstudy ThothAI Solution
Tutor-Verified Answer
Quick Answer
After 20 years, Sean will have more money.
Step-by-step Solution
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text
Enter your question here…
By image
Re-Upload
Submit