Multiple Choice
Ten years ago, Joe invested $5,000. Five years ago, Marie invested $2,500. Today, both Joe and Marie's investments are each worth $8,500. Which one of the following statements is correct
Concerning their investments?
A) Three years from today, Joe's investment will be worth more than Marie's.
B) Last year, Marie's investment was worth more than Joe's.
C) Joe has earned more interest on interest than Marie.
D) Marie earned an annual interest rate of 27.73%.
E) Joe earned an annual interest rate of 6.45%.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: A deposit of $10,000 increased to $12,500
Q55: Your grandfather placed $2,000 in a trust
Q56: Jamie deposits $1,000 into an account that
Q85: Grandma Jenkins knows that she has between
Q89: The Smith Co. has $450,000 to invest
Q91: At a 3% rate of interest, you
Q93: Alexander Industries just had a very profitable
Q197: Faith invests $4,500 in an account that
Q220: The future value will increase the shorter
Q273: Interest earned only on the original principal