exponential-growth-math-homework-help

exponential-growth-math-homework-help

Completely and accurately answer the following question in microsoft word document. Double check all work.

  1. Juan and Michelle each have $800. Juan plans to invest $200 for each year of the next four years, while Michelle plans to invest all $800 now. Both accounts pay 3% annual interest compounded monthly. Will they have the same amount of money after four years? Explain why or why not.