Question 1159176
<pre>

3{{{5/8}}}% = 0.03625.

Aaron's account after 17 years  A = {{{7000*e^(0.03625*17)}}} = {{{7000*2.71828^(0.03625*17)}}} = 12963.79 dollars.



3{{{3/4}}}% = 0.0375.

Mia's account after 17 years M = {{{7000*(1+0.0375/12)^(17*12)}}} = 13229.06 dollars.



Mia - Aaron (the difference) is  13229.06 - 12963.79 = 265.27, or, rounded to the nearest dollar, 265 dollars.    <U>ANSWER</U>
</pre>

Solved.


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On discretely compounded and continuously compounded accounts see the lessons

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/logarithm/Problems-on-discretely-compound-accounts.lesson>Problems on discretely compound accounts</A> 

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/logarithm/Problems-on-continuously-compound-accounts.lesson>Problems on continuously compound accounts</A> 

in this site.


Also, &nbsp;you have this free of charge online textbook in ALGEBRA-I in this site

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson>ALGEBRA-I - YOUR ONLINE TEXTBOOK</A>.


The referred lessons are the part of this online textbook under the topic "<U>Logarithms</U>".



Save the link to this online textbook together with its description


Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson


to your archive and use it when it is needed.