Multiple Choice
Sam wants to invest $5,000 for 5 years.Which one of the following rates will provide him with the largest future value?
A) 5 percent simple interest
B) 5 percent interest, compounded annually
C) 6 percent interest, compounded annually
D) 7 percent simple interest
E) 7 percent interest, compounded annually
Correct Answer:
Verified
Correct Answer:
Verified
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