MATH SOLVE

2 months ago

Q:
# Jill and Bill are the same age. Jill inherits $20,000 when she is 25, and invests it in an account earning 5% annual interest rate, compounded annually. Bill receives a $20,000 bonus at age 35, and then invests it in an account which also earns a 5% annual interest rate, compounded annually. How much more money does Jill have than Bill at age 50?A) $0 B) $10,000 C) $18,075 D) $26,149

Accepted Solution

A:

D) 26,149 is the correct answer