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| rev | Admin | (Created page with "'''Solution: C''' Max: deposit = 30,000 simple interest = 10% Tyler: deposit = 30,000 compound interst = 6% Max’s force of interest: <math> .1/(1 +.1t) </math> Tyler’s force of interest: 30,000(1 + .1(7.153)) = 51,459 Set equal: <math> .0583 = .1/(1 +.1t), \, t = 7.153 </math> Accumulated value of Max’s deposit: 30,000(1 + .1(7.153)) = 51,459 Accumulated value of Tyler’s deposit: 30,000(1 + .06)<sup>7.153</sup> = 45,512.86 Max – Tyler = 5,946.14 {{cit...") | Nov 22'23 at 0:07 | +731 |