Ten years ago, Joe invested $5,000. Five years ago, Marie invested $2,500. Today, both Joe and Marie's investments are each worth $8,500. Which one of the following statements is correct concerning their investments?
A) Three years from today, Joe's investment will be worth more than Marie's.
B) Last year, Marie's investment was worth more than Joe's.
C) Joe has earned more interest on interest than Marie.
D) Marie earned an annual interest rate of 27.73%.
E) Joe earned an annual interest rate of 6.45%.
Correct Answer:
Verified
Q199: To create the same future value given
Q200: As the discount rate increases, the present
Q201: Compound interest is best defined as the
Q202: The amount an investment is worth after
Q203: Ito invested $4,350. After seven years he
Q205: Twelve years ago, Jake invested $2,000. Six
Q206: Twenty years ago, Max invested $10,000. Thirty
Q207: The value today of future cash flows
Q208: Katie is going to receive $1,000 three
Q209: The greater the number of years, the:
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents