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Solve the Problem $12,000\$ 12,000 Is Deposited With $6000\$ 6000 Deposited Annually, with Interest Earned At

Question 160

Multiple Choice

Solve the problem.
-Which of the following investments is larger after 10 years?


A) An initial amount of $12,000\$ 12,000 is deposited with $6000\$ 6000 deposited annually, with interest earned at 5.75%5.75 \% compounded annually.
B) An initial amount of $10,000\$ 10,000 is deposited with $500\$ 500 deposited monthly, with interest earned at 5.75%5.75 \% compounded monthly.

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