Three years ago, Julianne invested $7,580.00. She has earned and will earn compound interest of 2.00 percent per year. In year from today, Teresa can make an investment and earn simple interest of 13.11 percent per year. If Teresa wants to hav much in 5 years from today as Julianne will have in 5 years from today, then how much should Teresa invest in one year from today? An amount equal to or greater than $3,628.00 but less than $5,080.00 An amount less than $3,628.00 or an amount greater than $8,506.00 An amount equal to or greater than $7,939.00 but less than $8,506.00 O An amount equal to or greater than $5,080.00 but less than $6,741.00 O An amount equal to or greater than $6,741.00 but less than $7,939.00
Three years ago, Julianne invested $7,580.00. She has earned and will earn compound interest of 2.00 percent per year. In year from today, Teresa can make an investment and earn simple interest of 13.11 percent per year. If Teresa wants to hav much in 5 years from today as Julianne will have in 5 years from today, then how much should Teresa invest in one year from today? An amount equal to or greater than $3,628.00 but less than $5,080.00 An amount less than $3,628.00 or an amount greater than $8,506.00 An amount equal to or greater than $7,939.00 but less than $8,506.00 O An amount equal to or greater than $5,080.00 but less than $6,741.00 O An amount equal to or greater than $6,741.00 but less than $7,939.00
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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Transcribed Image Text:Three years ago, Julianne invested $7,580.00. She has earned and will earn compound interest of 2.00 percent per year. In one
year from today, Teresa can make an investment and earn simple interest of 13.11 percent per year. If Teresa wants to have as
much in 5 years from today as Julianne will have in 5 years from today, then how much should Teresa invest in one year from
today?
O An amount equal to or greater than $3,628.00 but less than $5,080.00
An amount less than $3,628.00 or an amount greater than $8,506.00
An amount equal to or greater than $7,939.00 but less than $8,506.00
An amount equal to or greater than $5,080.00 but less than $6,741.00
An amount equal to or greater than $6,741.00 but less than $7,939.00
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