Question 1175632: (Anna pays a sum of 500 € into a savings book with an interest rate of 2%, Bea into an online account a sum of 300 € with an interest rate of 3%. Neither of them withdraw anything from their account over time) Bea claims: “My money length is much better. Wait a minute, I'll soon have more money in the account than you. '' Comment on this statement
Answer by greenestamps(13209)   (Show Source):
You can put this solution on YOUR website!
Comments on the statement....
(1) "My money length is better...."
I have no idea what that is supposed to mean. If it is standard financial vocabulary, I'm not familiar with it.
(2) "Wait a minute, I'll soon have more money... than you."
Given enough time, ANY initial amount earning 3% interest will grow to be more than ANY initial amount earning 2% interest.
Obviously, the two of them will have to wait more than "a minute" for Bea's account to be worth more than Anna's.
If the two of them are still young, then that might happen within their lifetimes.
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