I recently came across a math problem on my worksheet that says:

Carl plans to invest $500. Account A gives an 8.25% interest, compounded daily. Account B gives the same interest rate but compounded continuously. If he plans to invest the money for 20 years, which account would yield more money? How much more would he earn with that account?

For Account A I used the A=Pe^{rt} formula and got $10859.98673.
A=500e^{0.0825}(20)

For Account B I used the A=P(1+r/n)^{nt} formula. I got $10859.8855
A=500(1+0.0825/365)^{365}(20)

When I subtracted Account A minus B, I only got a 10¢ difference. My worksheet says the correct answer is 0.49¢

What am I doing wrong?! I’ve tried it by substituting the 365 with 1, 20, and 12. Still no answer. Help please!

## Number154

Just doing the first one in a calculator it looks like you put it in the calculator wrong. You calculated Pe

^{r}t when you should have calculated Pe^{rt}. I’m guessing you made a similar mistake for the other one (especially since the way you typed the numbers out on this question has the same parentheses errors).## dankestmemess

Yes!! You were right. I swear its the little things. I finally got the answer of 0.485361 which rounds to 0.49¢. Thank you!!