SOLUTION: what is a better investment: 1000.00 at 3 percent for 20 years or $500.00 at 7 percent for 20 years?
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Question 632909
:
what is a better investment: 1000.00 at 3 percent for 20 years or
$500.00 at 7 percent for 20 years?
Answer by
ewatrrr(24785)
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Hi,
1000(1.03)^20 = $1806.11
500(1.07)^20 = $1934.84
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