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Answer:
There will be $312.37 more in Account I.
Step-by-step explanation:
Giving the following information:
Initial investment= $10,000
Number of periods= 3 years
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
Account I:
FV= 10,000*(1.04^3)
FV= $11,248.64
Account II:
FV= 10,000*(1.03^3)
FV= $10,927.27
There will be $312.37 more in Account I.