Missy deposits $515 in an account earning 3% interest compounded annually and keeps the money in the account for 4 years. Sally deposits $500 in an account that earns 5.4% interest compounded annually and keep the money in the account for 2 years.  Who has more money when she closes her account?

 

John and Mary both decided to save up for retirement. They went to the bank together and John deposited $4000 into an account paying 3% interest compounded annually while Mary deposited $2000 into an account paying 5% interest compounded annually. How long will it be for both John's and Mary's account to have the same amount of money? How much will they have at that time?