Question $4$

$1$ pts

Raoul has $$800$ today. Which one of the following statements is correct if he invests this money at a positive rate of interest for ten years? Assume the interest is compounded annually.

The higher the interest rate he harns, the less money he will have in the future.

The higher the interest rate, the longer he has to wait for his money to grow to $$2,000$ in value.

If Raoul can earn $7$ percent, he will have to wait about six years to have $$1,600$ total.

At the end of the ten years, Raoul will have less money if he invests at $9$ percent rather than at $8$ percent.

At $7\mathrm{.}2$ percent interest, Raoul should expect to have about $$1,600$ in his account at the end of the ten years.