Answer:
Aiden would have $67 more than Autumn.
Step-by-step explanation:
Aiden compounded continuously, which uses the formula: [tex]P(t)=P_oe^r^t[/tex]
Plugging in what we know about Aiden's investment: [tex]P(11)=98000e^0^.^0^2^*^1^1[/tex]
That gives us: 122115.5196
Autumn invested using regular compound interest, which has the formula: [tex]A=P(1+\frac{r}{t})^n^t[/tex]
Since Autumn's investment is getting compounded quarterly, n=4 because it gets compounded 4 times a year.
Plug in Autumn's investment: [tex]A=98000(1+\frac{0.02}{4})^4^*^1^1[/tex]
That gives us: 122048.5974
Now just subtract the two and round to the nearest dollar:
[tex]122115.5196-122048.5974=66.92215187[/tex]
OR
$67. Aiden would have $67 more than Autumn after 11 years.
