How much money will have in total with option

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Problem 1: Joey receives $1722 from his grandparents. He wants to invest it for 4 years, to be used for university tuition. He has the option of two plans: 3.38% per annum, compounded monthly or 4% per annum, compounded annually. How much money will he have in total with option 2?

Reference no: EM132953631

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