Question
Jarom and Christina are twins. Both Jarom and Christinainvest$5,000 each yearbeginning when they are30years old.Jarom'sinvestmentpays 7 percent annually with semi-annual compounding, whileChristina's pays 7 percent
Jarom and Christina are twins. Both Jarom and Christinainvest$5,000 each yearbeginning when they are30years old.Jarom'sinvestmentpays 7 percent annually with semi-annual compounding, whileChristina's pays 7 percent annually with monthly compounding. Both Jarom and Christina retire at age 70. Which one of the following statements is correct?
A) Christina will have more than Jaromwhen they retire.
B) Christina will have less than Jaromwhen they retire.
C) Christina and Jarom earn the same amount of interest each year.
D) Christina will have the same amount asJaromwhen they retire.
E) Jarom will earn more in interest than Christina.
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