Biden recieves $2,100 income tax rebate. He can: - invest it at 9% and compounded quarterly for three years. - purchase a new laptop and put $40 a month in his savings account compounded monthly at 8% Which option should he take?? (Use a financial calculator.)

Biden recieves $2,100 income tax rebate. He can: - invest it at 9% and compounded quarterly for three years. - purchase a new laptop and put $40 a month in his savings account compounded monthly at 8% Which option should he take?? (Use a financial calculator.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Biden recieves $2,100 income tax rebate.
He can:
- invest it at 9% and compounded quarterly for three years.
- purchase a new laptop and put $40 a month in his savings account compounded monthly at 8%
Which option should he take??
(Use a financial calculator.)

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