Question
Bob hopes to open his own pizza shop after he retires from his teaching career in 15 years. He is considering various investment options to
Bob hopes to open his own pizza shop after he retires from his teaching career in 15 years. He is considering various investment options to maximize the amount he will have in 15 years to open his shop. Rank the scenarios from highest to lowest based on amount of money John will have at the end of 15 years. Assume each investment will have a nominal interest rate of 6% compounded monthly.
Scenario 1: Deposit $10,000 now.
Scenario 2: Deposit $12,000 into the investment account at the end of year 5.
Scenario 3: Deposit $150 into the investment account at the end of each month for the first 8 years.
The future worth of Scenario 1 will be $_________ (Round to the nearest dollar)
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