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Charlie has $12,000 to invest for a period of 5 years. The following three alternatives are available to him: compounding compounding: - Account 3 pays
Charlie has $12,000 to invest for a period of 5 years. The following three alternatives are available to him: compounding compounding: - Account 3 pays interest at the rate of 7.96850% per year for all 5 years. Based on the available balance at the end of year 5 , which alternatwe is charlies betit choice? Year 5 Balance, Alternative its Year 5 Balance, Alternative 24 Year 5 Balance, Alternative 3:5 Carry all interim calculations to 5 decimol ploces and then round your final answer to the nearest dallar. The folerance is \pm 5
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