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Charlie has $ 1 0 , 0 0 0 to invest for a period of 5 years. The following three alternatives are available to him:
Charlie has $ to invest for a period of years. The following three alternatives are available to him:
Account pays for year for year for year for year and for year all with annual
compounding.
Account pays for year for year for year for year and for year all with annual
compounding.
Account pays interest at the rate of per year for all years.
Based on the available balance at the end of year which alternative is Charlie's best choice?
Year Balance, Alternative : $
Year Balance, Alternative : $
Year Balance, Alternative : $
Carry all interim calculations to decimal places and then round your final answer to the nearest dollar. The tolerance is
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