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Wyatt invested $1,600 in an account paying an interest rate of 5% compounded annually. Joshua...

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Calculus

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Wyatt invested $1,600 in an account paying an interest rate of 5% compounded annually. Joshua invested $1,600 in an account paying an interest rate of 4% compounded quarterly. After 17 years, how much more money would Wyatt have in his account than Joshua, to the nearest dollar?

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Transcribed Image Text

Wyatt invested $1,600 in an account paying an interest rate of 5% compounded annually. Joshua invested $1,600 in an account paying an interest rate of 4% compounded quarterly. After 17 years, how much more money would Wyatt have in his account than Joshua, to the nearest dollar?

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