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Suppose That Nora Invested $900 at 9

Question 69

Multiple Choice

Suppose that Nora invested $900 at 9.25% compounded annually for 9 years and Patti invested $900 at 9% compounded quarterly for 9 years. At the end of 9 years, who will have the most money and by how much (to the nearest dollar) ?


A) Nora by $10
B) Patti by $3
C) Nora by $3
D) Patti by $10
E) They will have equal amounts of money.

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