BE1308&a caer 5,41 EFFECT OF INTREST RATE ON FUTURE VALUE Michael Lim and Daniel Tan are good friends. Both have set aside S$100,000 for investment. Michael is financially conservative and prefers to keep his investment in a fixed deposit which earns a paltry 1% per year. Daniel is less risk-averse and prefers to invest in riskier investments that earn 6% per year. Calculate the difference in the amounts they get at the end of 20 years