You have $10,000 to invest. You do not want to take any risk, so you will - 3997

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UoPExpert

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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 quarterly

C. 

An account that compounds interest monthly

D. 

An account that compounds interest annually

 
Solution 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?