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 $36003600 in an account with an APR of 22% and annual compounding. Julian invests $31003100 in an account with an APR of 33% and annual compounding. Complete parts a through c. Question content area bottom Part 1 a. Compute the balance in each account after 5 and 20 years. After 5 years Rosa will have a balance of approximately $enter your response here. After 20 years Rosa will have a balance of approximately $enter your response here. (Round to the nearest cent as needed.) Part 2 After 5 years Julian will have a balance of approximately $enter your response here. After 20 years Julian will have a balance of approximately $enter your response here. (Round to the nearest cent as needed.) Part 3 b. Determine, for each account and for 5 and 20 years, the percentage of balance that is interest. After 5 years approximately enter your response here% of Rosa's balance is interest. After 20 years approximately enter your response here% of Rosa's balance is interest. (Round to the nearest percent as needed.) Part 4 After 5 years approximately enter your response here% of Julian's balance is interest. After 20 years approximately enter your response here% of Julian's balance is interest. (Round to the nearest percent as needed.) Part 5 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 5 years and after 20 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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