Rosa invest $3500 in an account with an APR of 2% and annual compounding. Julian invest $3000 in an account with an APR of 3% and annual compounding complete parts a through c

Rosa invests $3500 in an account with an APR of 2% and annual compounding. Julian invests $3000 in an account with an APR of 3% and annual compounding. Complete parts a through c. a. Compute the balance in each account after 5 and 20 years. After 5 years Rosa will have a balance of approximately $. After 20 years Rosa will have a balance of approximately $ (Round to the nearest cent as needed.) After 5 years Julian will have a balance of approximately $After 20 years Julian will have a balance of approximately $0 (Round to the nearest cent as needed.) b. Determine, for each account and for 5 and 20 years, the percentage of balance that is interest. After 5 years approximately % of Rosa's balance is interest. After 20 years approximately 3% of Rosa's balance is interest. (Round to the nearest percent as needed.) After 5 years approximately % of Julian's balance is interest. After 20 years approximately % of Julian's balance is interest. (Round to the nearest percent as needed.) c. Comment on the effect of interest rates and patience. Choose the correct answer below. O A. A lower initial principal with a higher APR will always have a lower balance than a higher initial principal with a lower APR. OB. A lower initial principal with a higher APR over a long enough time period can result in a higher balance than a higher initial principal with a lower APR O C. The percent of the balance that is interest is the same after 5 years and after 20 years