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Mark Tom and Antonio both want to open savings accounts today. Tom wants to have $1,000 in his savings account six years from now. Antonio
Mark Tom and Antonio both want to open savings accounts today. Tom wants to have $1,000 in his savings account six years from now. Antonio wants to have $1,000 in his savings account three years from now. Which of the following statements is(are) correct assuming that both Antonio and Tom ear the same rate of interest? Assume that the interest rate is greater than zero and less than 20% 1. Tom needs to deposit more money into his account today than does Antonio II. Tom will need to deposit twice the amount of money today as Antonio III. Antonio needs to deposit more money into his account today than does Tom. IV. Antonio needs to deposit twice the amount of money today as Tom. O a. Tonly bill only C. I only O d. ll only .e. Ill and IV only
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