Twenty Years Ago, Max Invested $10,000

Multiple Choice

Twenty years ago, Max invested $10,000. Thirty years ago, Julie invested $5,000. Today, both Max and Julie's investments are each worth $35,000. Which one of the following statements is correct concerning their investments? Assume that they will continue earning the same rate of return.

A) Two years from now, Max's investment will be worth more than Julie's.
B) Last year, Julie's investment was worth more than Max's.
C) Max has earned more interest on interest than Julie.
D) Julie has earned an average annual interest rate of 6.7%.
E) Max has earned an average annual interest rate of 6.41%.