1. **State the problem:**
Benjamin invests 66000 at an interest rate of $6\frac{3}{8}\%$ compounded annually.
Christian invests 66000 at an interest rate of $5\frac{3}{4}\%$ compounded continuously.
We want to find how much more money Benjamin has than Christian after 19 years.
2. **Convert interest rates to decimals:**
$6\frac{3}{8}\% = 6 + \frac{3}{8} = 6.375\% = 0.06375$
$5\frac{3}{4}\% = 5 + \frac{3}{4} = 5.75\% = 0.0575$
3. **Formulas:**
- Compound interest annually: $$A = P\left(1 + r\right)^t$$
- Continuous compounding: $$A = Pe^{rt}$$
where $P$ is principal, $r$ is rate, $t$ is time in years.
4. **Calculate Benjamin's amount:**
$$A_B = 66000 \times \left(1 + 0.06375\right)^{19} = 66000 \times 1.06375^{19}$$
Calculate $1.06375^{19}$:
$$1.06375^{19} \approx 3.1521$$
So,
$$A_B = 66000 \times 3.1521 = 208038.6$$
5. **Calculate Christian's amount:**
$$A_C = 66000 \times e^{0.0575 \times 19} = 66000 \times e^{1.0925}$$
Calculate $e^{1.0925}$:
$$e^{1.0925} \approx 2.9813$$
So,
$$A_C = 66000 \times 2.9813 = 196765.8$$
6. **Find the difference:**
$$\text{Difference} = A_B - A_C = 208038.6 - 196765.8 = 11272.8$$
7. **Final answer:**
Benjamin would have approximately $11273$ more dollars than Christian after 19 years.
Investment Comparison D701A5
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