Question: Patrick and Bob open separate savings accounts at the same bank at the same time. They each put $1664 into their own account at the
Patrick and Bob open separate savings accounts at the same bank at the same time. They each put $1664 into their own account at the end of every year. They have an annual feed rate of interest at 47%. After 20 years of payments, Patrick stops paying into his account He just lets it sit there, collecting interest each year Bob continues paying the same amount every year How much more savings will Bob have than Patrick at the end of 28 more years? Formatting instructions Answer to the nearest dollar O Do not found intermediary calculations. Use the full precision of your calculator or Excel Remember this when calculating answers such as (1er. Keep all those digits for your intermediate calculations. Only round the very final answer whole numbers only no decimals no dolor sign no comma example: 12345678 Answer to the nearest DOLLAR
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