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Matthew wants to invest $10,000 for 7 years. Which one of the following rates will provide him with the largest future value? O a.2 percent
Matthew wants to invest $10,000 for 7 years. Which one of the following rates will provide him with the largest future value? O a.2 percent interest, compounded annually O b. 3 percent interest, compounded annually O c.4 percent interest, compounded annually O d. 3 percent simple interest O e. 5 percent simple interest Today, you are purchasing a 14-year, 7.5 percent annuity at a cost of $36,500. The annuity will pay annual payments starting one year from today. What is the amount of each payment? a. $4,969.58 O b. $4,299.60 O c. $3,881.88 O d. $4,120.91 O e. $3,187.69
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