Aahil and Zuri each invest $4,000 Aahil puts his money into a simple interest account with an annual rate of 3.5% Zuri chooses an account that offers continuously compounded interest at a rate of 3% Determine how many years it will take for Zuri's continuously compounded interest account to surpass Aahil's simple interest account in terms of balance. After how many years will Zuri's balance exceed Aahil's? Simple Interest Formula: A=P(1+rt) Continuously Compounded Interest Formula: A=Pe^rt The value of e , also known as Euler's number, is approximately 2.71828
Answer
A
Zuri's balance will exceed Aahil's balance between the 12th and the 15th year.
B
Zuri's balance will exceed Aahil's balance after the 15th year.
C
Zuri's balance will exceed Aahil's balance between the 10th and the 12th year.
D
Zuri's balance will exceed Aahil's balance before the 10th year.