Your sister just deposited $13,000 into an investment account. She believes that she will earn an annual return of 10.3 percent for the next 10 years. You believe that you will only be able to earn an annual return of 9.4 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 10 years? Multiple Choice O о $1,109.94 $2,436.28 $102.43 $1,035.95 $1,183.94
Your sister just deposited $13,000 into an investment account. She believes that she will earn an annual return of 10.3 percent for the next 10 years. You believe that you will only be able to earn an annual return of 9.4 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 10 years? Multiple Choice O о $1,109.94 $2,436.28 $102.43 $1,035.95 $1,183.94
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
Am. 407.
![Your sister just deposited $13,000 into an investment account. She believes that she will earn an annual return of 10.3 percent for
the next 10 years. You believe that you will only be able to earn an annual return of 9.4 percent over the same period. How much
more must you deposit today in order to have the same amount as your sister in 10 years?
Multiple Choice
O
$1,109.94
$2,436.28
$102.43
$1,035.95
$1,183.94](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fba9989b2-1590-4c92-ae9f-eaf1dee87f52%2Fb24e648d-a61d-490f-a3cd-84902ddcc111%2Fncu1i49_processed.png&w=3840&q=75)
Transcribed Image Text:Your sister just deposited $13,000 into an investment account. She believes that she will earn an annual return of 10.3 percent for
the next 10 years. You believe that you will only be able to earn an annual return of 9.4 percent over the same period. How much
more must you deposit today in order to have the same amount as your sister in 10 years?
Multiple Choice
O
$1,109.94
$2,436.28
$102.43
$1,035.95
$1,183.94
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