Multiple Choice
Stephen has $2,400 to invest. Which one of the following investment options will produce the largest future value for him?
A) 7% simple interest for 10 years
B) 7%, compounded annually for 10 years
C) 7%, compounded monthly for 12 years
D) 7%, compounded annually for 12 years
E) 7, simple interest for 12 years
Correct Answer:
Verified
Correct Answer:
Verified
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