Thomas deposits $2000 in an account that pays 5.5%
annual interest, compounded monthly. On the same
day, Susan deposits $2500 in an account that pays 3.2%
annual interest, compounded quarterly. If both leave
the money in the account for ten years, at the end of that
time, who will have more money, and what will the
difference in the total amounts be? Round to the
nearest cent.
A. Thomas will have $23.71 more than Susan.
B. Thomas will have $25.16 more than Susan.
C. Susan will have $200.00 more than Thomas.
D. Thomas will have $378,728.26 more than Susan.