Solution-Money after the offered investment period

Money after the offered investment period

Reference no: EM132484896

Joe has just received an unexpected bonus of $1,800 from his job. He wants to invest it in the market, but is not sure which option will give him the highest return on his investment. Assuming he won't need the money for the duration of the investment (meaning he can leave it in his account) and that he can't reinvest the money after the offered investment period, which of the following options is the best choice for him?

Option 1: 8 years at 5.00% annual return

Option 2: 6 years at 6.00% annual return

Option 3: 4 years at 7.00% annual return

Option 4: 4 years at 10.25% annual return

Group of answer choices

Option 1

Option 2 or 3

Option 1 or 3

Option 1 or 4

Reference no: EM132484896

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Money after the offered investment period

Reference no: EM132484896

Reference no: EM132484896

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