document.write( "Question 1201057: I deposited $6000 into an account that earns 7% compounded annually. A friend posits $5250 into an account that earns 6.85% annual interest compounded continously. So will my friend balance equal to mine? \n" ); document.write( "

Algebra.Com's Answer #835309 by ikleyn(52784) $\"\"$ $\"About$

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\n" ); document.write( "I deposited $6000 into an account that earns 7% compounded annually.
\n" ); document.write( "A friend posits $5250 into an account that earns 6.85% annual interest compounded continously.
\n" ); document.write( "So will my friend balance equal to mine?
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document.write( "The friend's account is this exponential function of time F(t) = .\r\n" );
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document.write( "The growth coefficient is   = 1.070900576 per year.\r\n" );
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document.write( "As you see, the friend's growth coefficient is larger than yours (1.0709 against 1.07).\r\n" );
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document.write( "It is just enough to state that sometime, the friend's account will overcome your account.\r\n" );
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