The following pair of investment plans are identical except for a small difference in interest rates. Compute the balance in the accounts after 10 and 30 years. Discuss the difference.

Chang invests $500 in a savings account that earns 3.75% compounded annually.

Kio invests $500 in a different savings account that earns 4.0% compounded annually.

After 10 years Chang will have a balance of approximately?

After 30 years Chang will have a balance of approximately?

(Round to the nearest cent as needed.)