Answered: Which grows to a larger future value:…

Which grows to a larger future value: $4000 invested for 10 years at 5%compounded monthly $2000 invested for 10 years at 10% compounded quarterly

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter1: Understanding Personal Finance

Section1.4: Perform Time Value Of Money Calculations

Problem 3CC

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Which grows to a larger future value:

$4000 invested for 10 years at 5%compounded monthly
$2000 invested for 10 years at 10% compounded quarterly

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