Multiple Choice
You have $500 in an account which pays 5% compound interest. How much additional interest would you earn over four years if you moved the money to an account earning 6%?
A) $21.89
B) $23.49
C) $24.93
D) $25.88
E) $29.94
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q58: Stephen invests $2,500 in an account that
Q59: Dale invests $500 in an account that
Q60: The Smith Co. has $450,000 to invest
Q61: State the future value formula and explain
Q62: You deposit $500,000 in a higher risk
Q64: Many economists view a 3% annual inflation
Q65: The future value of a single sum
Q66: An account was opened with $1,000 ten
Q67: Many financial calculators require that:<br>A) The interest
Q68: You would like to invest some money