You are thinking of investing $3600 this year. You have received advice from family members. • Aunt Anne recommends investing in the stock market with a 9.45% average rate of return. • Uncle Rick recommends investing in a 5.60% certificate of deposit (CD). • Grandpa recommends investing in a 0.53% savings account. How much money will you have at the end of 10 years if you pick Aunt Anne's advice? money after 10 years: S How much money will you have at the end of 20 years if you pick Uncle Rick's advice? money after 20 years: $ How much money will you have at the end of 40 years if you pick Grandpa's advice? money after 40 years: S

You are thinking of investing $3600 this year. You have received advice from family members. • Aunt Anne recommends investing in the stock market with a 9.45% average rate of return. • Uncle Rick recommends investing in a 5.60% certificate of deposit (CD). • Grandpa recommends investing in a 0.53% savings account. How much money will you have at the end of 10 years if you pick Aunt Anne's advice? money after 10 years: S How much money will you have at the end of 20 years if you pick Uncle Rick's advice? money after 20 years: $ How much money will you have at the end of 40 years if you pick Grandpa's advice? money after 40 years: S

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

You are thinking of investing $3600 this year. You have received advice from family members.
• Aunt Anne recommends investing in the stock market with a 9.45% average rate of return.
• Uncle Rick recommends investing in a 5.60% certificate of deposit (CD).
• Grandpa recommends investing in a 0.53% savings account.
How much money will you have at the end of 10 years if you pick Aunt Anne's advice?
money after 10 years: S
How much money will you have at the end of 20 years if you pick Uncle Rick's advice?
money after 20 years: $
How much money will you have at the end of 40 years if you pick Grandpa's advice?
money after 40 years: $

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