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Rosa invests $3200 in an account with an APR of 5% and annual compounding. Julian invests $2700 in an account with an APR of 6%
Rosa invests $3200 in an account with an APR of 5% and annual compounding. Julian invests $2700 in an account with an APR of 6% 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 SAfter 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 sAfter 20 years Juilian will have a balance of approximately s (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 1% 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 | Round to the nearest percent as needed.) c. Comment on the effect of interest rates and patience Choose the correct answer below. % of Julian's balance is interest
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