Sheldon invests $15,000 in an account earning 3% interest, compounded annually for 12 years. ... Given that no additional deposits are made, compare the balances of the two accounts after the interest period ends for each account.

Sheldon invests $15,000 in an account earning 3% interest, compounded annually for 12 years. ... Given that no additional deposits are made, compare the balances of the two accounts after the interest period ends for each account.

Sheldon invests $15,000 in an account earning 3% interest, compounded annually for 12 years. Seven years after Sheldon's initial investment, Howard invests $15,000 in an account earning 6% interest, compounded annually for 5 years. [ Sheldon would have $21,386, while Howard would have $20,073. Solution: For Sheldon:
A=15000(1+0.03)¹²=15000(1.03)¹²=21386.41 21386; For Howard:
A=15000(1+0.06) =15000(1.06) =20073.38 20073. ]

Sheldon invests $15,000 in an account earning 3% interest, compounded annually for 12 years. ... Given that no additional deposits are made, compare the balances of the two accounts after the interest period ends for each account.

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