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You have $10,000 to invest. You do not want to take much risk, so you will put the funds in a savings account at the local bank. Of the following choices, which one will produce the largest sum (future value) at the end of 22 years? a. b. C. d. An account that compounds interest annually An account that compounds interest daily An account that compounds interest quarterly An account that compounds interest monthly You have $10,000 to invest. You do not want to take much risk, so you will put the funds in a savings account at the local bank. Of the following choices, which one will produce the largest sum (future value) at the end of 22 years? a. b. C. d. An account that compounds interest annually An account that compounds interest daily An account that compounds interest quarterly An account that compounds interest monthly
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Related Book For
Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Posted Date:
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