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Jeff has $1,400 that he invests in a safe financial instrument expected to return 3% annually. Marge has $700 and invests in a more risky

Jeff has $1,400 that he invests in a safe financial instrument expected to return 3% annually. Marge has $700 and invests in a more risky venture that is expected to return 8% annually. Who has more after 29 years? And how much does he/she have in future value (FV) terms?

  • A. Jeff; $63,306.39
  • B. Marge; $6,522.09
  • C. Marge; $72,776.16
  • D. Jeff; $3,299.19

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