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please answer all correctly Charlie has $14,000 to invest for a period of 5 years. The following three alternatives are available to him: Account 1
please answer all correctly
Charlie has $14,000 to invest for a period of 5 years. The following three alternatives are available to him: Account 1 pays 2.00% for year 1, 4.00% for year 2, 5.00% for year 3, 8.00% for year 4, and 10.00% for year 5, all with annual compounding. Account 2 pays 10.00% for year 1, 8.00% for year 2,5.00% for year 3,4.00% for year 4, and 2.00% for year 5, all with annual compounding. Account 3 pays interest at the rate of 5.76156% per year for all 5 years. Based on the available balance at the end of year 5, which alternative is Charlie's best choice? Year 5 Balance, Alternative 1: $ Year 5 Balance, Alternative 2:$ Year 5 Balance, Alternative 3: $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is 05 Step by Step Solution
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