Multiple Choice
Which of the following investments has a larger future value: Investment A,a $1,000 investment earning 5% per year for 6 years,or Investment B,a $500 investment earning 10% per year for 6 years,with a bonus of an extra $500 added at the end of the sixth year?
A) Investment B,with a future value of $1,386.
B) Investment A,with a future value of $1,386.
C) Investment A,with a future value of $1,340.
D) The investments have equal value.
Correct Answer:
Verified
Correct Answer:
Verified
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