Lucas must decide how to invest $4,000. He can deposit the money in a savings account...
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Lucas must decide how to invest $4,000. He can deposit the money in a savings account that pays simple interest at a rate of 5.25% annually, or Lucas can deposit the money in a CD accound paying 4.596 compounded annually. What will the difference in the account balances after 7 years? O. b Oc 200 d $1,470.00 $5.443.45 $3,973.45 $26.55 Lucas must decide how to invest $4,000. He can deposit the money in a savings account that pays simple interest at a rate of 5.25% annually, or Lucas can deposit the money in a CD accound paying 4.596 compounded annually. What will the difference in the account balances after 7 years? O. b Oc 200 d $1,470.00 $5.443.45 $3,973.45 $26.55
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Question 1 Calculation of Account balance using Simple In... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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