Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 88

Quinn and Julius inherited $50,000 each from their great-grandmother's estate. Quinn invested her money in a 5-year CD paying 1.6% interest compounded semiannually, Julius deposited his money in a money market account paying 1.05% compounded monthly.
a. How much money will each have in 5 years Round to the nearest whole dollar.
b. How much compound interest will they each have earned at the end of 5 years