Rosa invests $3500 in an account with an APR of 5% and annual compounding. Julian invests $3000 in an account with an APR of 6% and annual compounding. complete parts a through c

a. after 5 years Rosa will have a balance of approximately: after 20 years Rosa will have a balance of approximately:

after 5 years Julian will have a balance of approximately: after 20 years Julian will have a balance of approximately:

b. Determine for each account and for 5 and 20 years, the percentage of balance that is interest.

after 5 years approximately % of Rosas balance is interest. After 20 years approximately % of Rosas balance is interest.

after 5 years approximately % of Julians balance is interest. After 20 years approximately % of Julians balance is interest.

c. Comment on the effect of interest rates and patience

choose the correct answer below

a. the percent of balance that is interest is the same after 5 years and 20 years

b. A lower initial principal with a higher APR will always have a lower balance than a higher initial principal with a lower APR.

c.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.

b.