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Jason invested $20,000 into his RRSP when he turned 30 years old. Maria invested $25,000 into her RRSP when she turned 35 years old. If
Jason invested $20,000 into his RRSP when he turned 30 years old. Maria invested $25,000 into her RRSP when she turned 35 years old. If both earned 3.5% compounded monthly, which one has more money than the other one when they both turn 65 years old, report the answer in percentage difference (rounded to two decimal) Explain your answer in detail, including the final answer. Austin is shopping around for a car loan. At three different websites he saw posted rates of 8.24% compounded semi-annually, 5.26% compounded per six months, and 3.5% compounded every quarter. Which is the lowest nominal rate? Justify your answer in detail. Solve with minimum 2 decimal points
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