Multiple Choice
How much longer will it take for an initial deposit of $10,000 and annual payments of $1,000 accumulate to $25,000 if interest was at 4.11% compounded annually versus 5.45% compounded annually.
A) 1 year
B) 2 years
C) 3 years
D) 4 years
E) 5 years
Correct Answer:
Verified
Correct Answer:
Verified
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