Lucy invests $800 in an account that earns 6.15% annual interest compounded continuously. Juan invests $1,600 in an account that earns 3.8% annual interest compounded continuously. Find when the value of
Lucy's investment equals the value of Juan's investment and find the common value of the investments
at that time. If necessary, enter the year to the nearest tenth and the value to the nearest cent.
So, the value of Juan's investment equals the value of Lucy's investment after approximately |
years. The common value of the investments is approximately $

Both their investments will reach a similar value in 32 years, 9 months and 8 days. Both accounts will have exactly $5,606.

Explanation:

Original investment:              $800 at 6.12%                    $1,600 at 3.9%          

future value 10 years                     $1,449                                $2,346

future value 20 years                   $2,624                                $3,439

future value 30 years                   $4,753                                $5,042

future value 31 years                    $5,044                                $5,238

future value 32 years                   $5,353                                $5,442

future value 33 years                   $5,681                                 $5,655

It will take over 32 years for both investments to match their amounts.

to determine the approximate month we start with the future value in 32 years:

                                                        $5,353                          $5,442

future value in 6 months                 $5,517                           $5,548

future value in 9 months                $5,599                           $5,601

future value in 9 months                                                                          

and 5 days                                      $5,603                           $5,604

future value in 9 months                                                                          

and 8 days                                      $5,606                           $5,606

Step-by-step explanation:

hope this helps!

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