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If Bill invests $555 at 5.35% per year compounded monthly and Steve invests $1,086 at 6.81% simple interest per year, how long will it take
If Bill invests $555 at 5.35% per year compounded monthly and Steve invests $1,086 at 6.81% simple interest per year, how long will it take for the first person to reach $22,120 in savings? Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "\$" "", or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (\#\#\#.\#\#) Question 13 10 pts If Clare can earn 8.1% for 8 years and 2.42% after that how much will she have at the end of year 26 if she invests $6,345 today and interest is compounded annually? Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "\$" "," or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (\#\#.\#\#)
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