Multiple Choice
Robin invested $10,000 in an account that pays 5% simple interest. How much more could she have earned over a 40-year period if the interest had compounded annually?
A) $38,207.16
B) $38,414.14
C) $40,399.89
D) $48,414.14
E) $50,399.89
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q187: Chia Burgers began operations by opening 115
Q188: The future value of a single sum
Q189: Grandma Jenkins knows that she has between
Q190: Tom and Antonio both want to open
Q191: An investor is considering depositing $20,000 in
Q193: Jamie deposits $1,000 into an account that
Q194: Compound interest is best defined as the
Q195: At an interest rate of 10% and
Q196: Today, you earn a salary of $37,800.
Q197: Faith invests $4,500 in an account that