Question
Mr. Mudd gives each of his children $2000 to invest as part of a friendly family competition. The competition will last 10 years. The rules
Mr. Mudd gives each of his children $2000 to invest as part of a friendly family competition. The competition will last 10 years. The rules of the competition are simple. Each can split up his or her own $2000 into as many separate investments as they please. The children are encouraged to do their research on types of investments. The initial investments made may not be changed at any point during the 10 years, no money may be added and no money may be removed. Max had a $1000 decrease in value exponentially at a rate of 0.5% annually. $1000 of his $2000 earned 1.8% annual interest compounded biannually( twice a year). What is Max's $2000 after 10 years.
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