Al, Ralph, and Stan Are All Intending to Retire

Multiple Choice

Al, Ralph, and Stan are all intending to retire. Each currently has $1 million in his retirement account. Al will earn 16% interest and retire in two years. Ralph will earn 8% interest and retire in four years. Stan will earn 4% interest and retire in eight years. Who will have the largest sum when he retires?

A) Al
B) Ralph
C) Stan
D) They all retire with the same amount.