James invests $10,000 in an account earning 6% interest, compounded annually. Curtis invests $10,000 in an account earning 5% interest, compounded annually. Given that no additional deposits are made, compare the balances of the two accounts after 10 years. (round to the nearest dollar)

Solution:we are given that James invests $10,000 in an account earning 6% interest, compounded annually.Curtis invests $10,000 in an account earning 5% interest, compounded annually. Given that no additional deposits are made, compare the balances of the two accounts after 10 years.So here t=10 years.As we know that [tex]A=P(1+ \frac{r}{100} )^n[/tex]So In James account after 10 years we have [tex]A=10000(1+ \frac{6}{100} )^{10}[/tex][tex]A=10000(1+0.06 )^{10}[/tex][tex]A=10000(1.06 )^{10}=17908.5 \approx 17909[/tex] $So In Curtis  account after 10 years we have [tex]A=10000(1+ \frac{5}{100} )^{10}[/tex][tex]A=10000(1+0.05 )^{10}[/tex][tex]A=10000(1.05 )^{10}=16288.9 \approx 16289[/tex] $Hence james will have 17909-16289=1620$ more in his account after 10 years.