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Is it better to save $100 every month or $1,200 every year if you can eam 6% interest every year for 3 years? What is the dollar difference of the two choices at the end of 3 years? Select all that apply. Use the factor tables in Canvas or your financial calculator Check All That Apply It is better to save $100 every month It is better to save $1,200 every year Both investments are the same There is no doller difference between the two. The dollar difference is approximately $54.12 The dollar difference is approximately $113.29

Is it better to save $100 every month or $1,200 every year if you can eam 6% interest every year for 3 years? What is the dollar difference of the two choices at the end of 3 years? Select all that apply. Use the factor tables in Canvas or your financial calculator Check All That Apply It is better to save $100 every month It is better to save $1,200 every year Both investments are the same There is no doller difference between the two. The dollar difference is approximately $54.12 The dollar difference is approximately $113.29

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Is it better to save $100 every month or $1,200 every year if you can eam 6% interest every year for 3 years? What is the dollar difference of the two choices at the end of 3 years? Select all that apply. Use the factor tables in Canvas or your financial calculator Check All That Apply It is better to save $100 every month It is better to save $1,200 every year. Both investments are the same There is no dollar difference between the two. The dollar difference is approximately $54.12 The dollar difference is approximately $113.29
Transcribed Image Text:Is it better to save $100 every month or $1,200 every year if you can eam 6% interest every year for 3 years? What is the dollar difference of the two choices at the end of 3 years? Select all that apply. Use the factor tables in Canvas or your financial calculator Check All That Apply It is better to save $100 every month It is better to save $1,200 every year. Both investments are the same There is no dollar difference between the two. The dollar difference is approximately $54.12 The dollar difference is approximately $113.29
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