Question
Five friends all open investment accounts today. Which one will withdraw the largest amount of money from their account assuming that they each withdraw their
Five friends all open investment accounts today. Which one will withdraw the largest amount of money from their account assuming that they each withdraw their funds at the end of their initial investment period?Show all your work for each friend (i.e., item A to E below) before making your final decision (with a conclusion statementJ).(10 Marks)
A.
John, who invests $1,000 for eight years at 6% simple interest.
B.
Terry, who invests $1,000 for four years at 9% with interest compounded annually.
C.
Alicia, who invests $800 for ten years at 11% with interest compounded annually.
D.
Kristi, who invests $1,200 for six years at 8% simple interest.
E.
Roger, who invests $900 for nine years at 9% with interest compounded annually.
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