Find out which of the following investments is larger and the amount difference after 28 years.

Find out which of the following investments is larger and the amount difference after 28 years.

a) $5000 is deposited annually and earns 5% interest compounded annually

b) $400 is deposited monthly and earns 5% interest compounded monthly

$5,0005%28 YEARSFUTURE VALUE $19,600.65 case 2$4005%future value ($1,617.37) case 1 earns more by 17983.28 $