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Darth Vader wants to retire from being an evil genius, and he has to choose how to invest his money. Option A: Should he invest
Darth Vader wants to retire from being an evil genius, and he has to choose how to invest his money. Option A: Should he invest 203000 at 12.2% compounded quarterly for 7 years, or Option B: Should he invest the same amount of money at 11.7% compounded monthly for the same amount of time? Option A (Compounded Quarterly): P/Y (0.5 points) C/Y (0.5 points) N (1 point) I/Y (0.5 points) PV (0.5 points) What is the future value of Option A? Round to 2 decimal places (2 points) Option B (Compounded Monthly): P/Y (0.5 points) C/Y (0.5 points) N (1 points) I/Y (0.5 points) PV (0.5 points) What is the future value of Option B? Round to two decimal places (2 points) Which option should he choose? (1 points) How much more money will he have with this option? (1 point)
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