Leave the money alone to collect interest

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Suppose you have $7,000 to invest and you can leave the money alone to collect interest for at least five years. Which of the following investments is best for you? a. An investment with a 3% annual interest rate, compounded continuously. b. An investment with a 3% annual rate paying simple interest. c. An investment with a 3% annual interest rate, compounded annually. d. An investment with a 3% annual interest rate, compounded quarterly.

Reference no: EM131222673

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