You have $10,000 to inves - 3738

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  • Posted on: Mon 26 Mar, 2012
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Request Description

You have $10,000 to invest. You do not want to take any 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 at the end of 22 years?

A. An account that compounds interest daily

B. An account that compounds interest annually

C. An account that compounds interest monthly

D. An account that compounds interest quarterly 

Solution Description

You have $10,000 to invest. You do not want to take any risk, so you will put the funds