Question
Please show all work A) Today, Heather and Mike open savings accounts with the same bank, which is offering an annual interest rate of 5
Please show all work
A) Today, Heather and Mike open savings accounts with the same bank, which is offering an annual interest rate of 5 percent for first-time savers. Heather initially invests $5,000 and plans on leaving the money in the account untouched for the next 35 years. Mike initially invests $7,000 and plans on leaving the money in the account untouched for the next 30 years. Which of the two will have more money at the end of their respective investments?
B) Suppose that the first comic book of a classic series was sold in 1954. In 2000, the estimated price for this comic book in good condition was about $340,000. This represented a return of 27 percent per year. For this to be true, what was the original price of the comic book in 1954?
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