Question: Rosa invests $ 3 6 0 0 3 6 0 0 in an account with an APR of 2 2 % and annual compounding. Julian
Rosa invests $ in an account with an APR of and annual compounding. Julian invests $ in an account with an APR of and annual compounding. Complete parts a through c Question content area bottom Part a Compute the balance in each account after and years. After years Rosa will have a balance of approximately $enter your response here. After years Rosa will have a balance of approximately $enter your response here. Round to the nearest cent as needed. Part After years Julian will have a balance of approximately $enter your response here. After years Julian will have a balance of approximately $enter your response here. Round to the nearest cent as needed. Part b Determine, for each account and for and years, the percentage of balance that is interest. After years approximately enter your response here of Rosa's balance is interest. After years approximately enter your response here of Rosa's balance is interest. Round to the nearest percent as needed. Part After years approximately enter your response here of Julian's balance is interest. After years approximately enter your response here of Julian's balance is interest. Round to the nearest percent as needed. Part c Comment on the effect of interest rates and patience. Choose the correct answer below. A A lower initial principal with a higher APR over a long enough time period can result in a higher balance than a higher initial principal with a lower APR. B The percent of the balance that is interest is the same after years and after years. C A lower initial principal with a higher APR will always have a lower balance than a higher initial principal with a lower APR.
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