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How much linda and lisa balances are at dec

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Linda and Lisa have different saving plans:

  • At Jan 1, 2000, Linda deposited $5000 to a saving account, which offers an interest rate of 3% compounded monthly.
  • Lisa deposited $500 to one fund at Jan 1, 2000, the fund offers a simple interest rate of 10% per year. Since then, at every year Lisa deposited the same amount ($500) to that fund.

Problem 1: Code to calculate how much Linda and Lisa's balances are at Dec 31, 2020. Whose balance is larger?

Reference no: EM132729462

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