Question

Emma invested $540 in an account paying an interest rate of 7\tfrac{3}{4}7 4 3 ​ % compounded monthly. Cameron invested $540 in an account paying an interest rate of 7\tfrac{3}{8}7 8 3 ​ % compounded continuously. To the nearest dollar, how much money would Emma have in her account when Cameron’s money has tripled in value?

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  1. Answer:
    1300
    Step-by-step explanation:
    Emma invested $540 in an account paying an interest rate of 7\tfrac{3}{4}7 4 3 ​ % compounded monthly. Cameron invested $540 in an account paying an interest rate of 7\tfrac{3}{8}7 8 3 ​ % compounded continuously. To the nearest dollar, how much money would Emma have in her account when Cameron’s money has tripled in value?

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