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Hans Solo has a choice to make. Option A: Should he invest 19000 at 11.2% for 9 years earning simple interest, or Option B: Should
Hans Solo has a choice to make. Option A: Should he invest 19000 at 11.2% for 9 years earning simple interest, or Option B: Should he invest the same amount of money at 10.95% compounded quarterly for the same amount of time? Simple Interest: Principal (0.5 points) Rate - as a decimal (0.5 points) Time (0.5 points) What will the future vale of the investment be with Option A? Round to two decimal places. (1.5 points) Compound Interest: P/Y (0.5 points) C/Y (0.5 points) N (0.5 points) I/Y (0.5 points) PV (0.5 points) What will be the future value of the investment for Option B? Round to two decimal places (1.5 points) Which option should Hans Solo choose? (1 point) How much more interest does he earn with this option? Round to two decimal places (1 point)
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