Multiple Choice
Rob wants to invest $15,000 for 7 years.Which one of the following rates will provide him with the largest future value?
A) 3 percent simple interest
B) 3 percent interest, compounded annually
C) 2 percent interest, compounded annually
D) 4 percent simple interest
E) 4 percent interest, compounded annually
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q45: What is the future value of $8,000
Q46: Travis invests $5,500 today into a retirement
Q47: Tomas earned $89 in interest on his
Q48: You want to have $35,000 in cash
Q49: Lew has $3,600 that he wants to
Q51: Which one of the following will increase
Q52: You have just made your first $5,000
Q53: You have been told that you need
Q54: The present value of a lump-sum future
Q55: Roberto just deposited $11,500 into his savings