The following pair of investment plans are identical except for a small difference in interest...
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Basic Math
The following pair of investment plans are identical except for a small difference in interest rates. Compute the balance in the accounts after 10 and 30 years. Discuss the difference.Chang invests $1100 in a savings account that earns 4.5% compounded annually. Kio invests $1100 in a different savings account that earns 4.75% compounded annually.After 10 years Chang will have a balance of approximately $. After 30 years Chang will have a balance of approximately $(Round to the nearest cent as needed.)
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