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) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

 1000(1.03)^20 = $1806.11

 500(1.07)^20 =  $1934.84