Question: 14. Which amount is worth more at 14 percent, compounded annually: $1,000 in hand today or $2,000 due in 6 years? 15. Fahad is considering

14. Which amount is worth more at 14 percent, compounded annually: $1,000 in hand today or $2,000 due in 6 years? 15. Fahad is considering two different savings plans: Plan A - He will deposit $500 every six months for 7 years and he would receive interest at a 8% annual rate, compounded semiannually. The initial deposit with Plan A would be made six months from now. Plan B - He will deposit $1000 every year for 7 years with a rate of interest of 8%, compounded annually. Initial deposit would be made one year from now. Which savings plans should Fahad choose and why? All calculations must be shown

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