Gabriella invested $73,000 in an account paying an interest rate of 3% compounded continuously. Mila invested $73,000 in an account paying an interest
rate of 3% compounded quarterly. After 5 years, how much more money would
Gabriella have in her account than Mila, to the nearest dollar?

Gabriella will make $61 more than Mila after 5 years

Step-by-step explanation:

Gabriella Data

Principal Amount P= $73,000

Rate r = 3% or 0.03

Compounded continuously

Time t = 5 years

The formula used is:

Putting values and finding A

So, After 5 years Gabriella will have $84814

Mila Data:

Principal Amount P= $73,000

Rate r = 3% or 0.03

Compounded quarterly n = 4

Time t = 5 years

The formula used is:

Putting values and finding A

So, After 5 years Mila will have $84753

Now subtracting to find the difference 84814-84753 = 61

So, Gabriella will make $61 more than Mila after 5 years

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step-by-step explanation: