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Suppose That Nora Invested $400 at 8

Question 18

Multiple Choice

Suppose that Nora invested $400 at 8.5% compounded annually for 6 years and Patti invested $400 at 8% compounded quarterly for 6 years. At the end of 6 years, who will have the most money and by how much (to the nearest dollar) ?


A) Patti by $9
B) Nora by $1
C) Patti by $1
D) Nora by $9
E) They will have equal amounts of money.

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