Question: Answer all parts complete and correct with full steps to get 100% feedback!! A company felt that they are changing mobiles every 3 years for

Answer all parts complete and correct with full steps to get 100% feedback!!

A company felt that they are changing mobiles every 3 years for their employees. Hence the company set aside an amount 3 years ago which is now worth $ 925000. Use compound interest rate of 7% to determine the initial amount that was set aside 3years ago. In the next cycle the company wanted to try another investment option to receive better interest rate. The initial amount that they set aside remained the same. Determine the future worth of this initial amount if interest received is 1.5% per quarter for the next 3 years. Should they continue to use the first interest option or the second one?

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