You have a savings account valued at $1,500 today that earns an annual interest rate of 8.7 percent. How much more would this account be worth if you wait to spend the entire balance in 25 years rather than in 20 years?
A) $6,306.16
B) $4,658.77
C) $3,311.18
D) $6,907.17
E) $4,117.64

Question

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The Answer of You have a savings account valued at $1,500 today that earns an annual interest rate of 8.7 percent. How much more would this account be worth if you wait to spend the entire balance in 25 years rather than in 20 years?
A) $6,306.16
B) $4,658.77
C) $3,311.18
D) $6,907.17
E) $4,117.64

You Have a Savings Account Valued at $1,500 Today That