You have ($10),000 to invest for 5 years. Your local bank has the following accounts available: Account

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You have \($10\),000 to invest for 5 years. Your local bank has the following accounts available:
Account 1 for \($500\) or over: 5.5 percent per year simple interest
Account 2 for \($2\),000 or over: 5 percent per year compound interest
Account 3 for \($6\),000 or over: 6.5 percent per year simple interest
Account 4 for \($10\),000 or over 6 percent per year compound interest
Construct a table showing the projected amount of money in each account at the end of each of the 5 years. Which do you prefer?

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Related Book For  answer-question

Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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