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Chadwick wants to know the future value of two different investing strategies. In plan 1, Chadwick would invest $500 today and at the end of
Chadwick wants to know the future value of two different investing strategies. In plan 1, Chadwick would invest $500 today and at the end of each of the next 36 months, in an account paying a 5.4% annual interest rate compounded monthly. In plan 2, Chadwick would make the same series of payments in the same account, but would start after 2 years. Which of these pairs of results is correct? Round your calculations to the nearest dollar. Select one: a. Plan 1 Plan 2 $19,493 $21,711 b. Plan 1 Plan 2 $19,493 $19,493 C. Plan 1 Plan 2 $18,989 $21,655 d. Plan 1 Plan 2 $19,580 $19,580
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