Blake has $3,750 that he can invest for 25 years. His two options are the...
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Blake has $3,750 that he can invest for 25 years. His two options are the following (1) A certificate of deposit that earns 12%, annual compounding, or (2) a mutual fund that earns 11.5%, compounding weekly. Assume there are 52 weeks in the year. How much money will be in each account at the end of the 25 years?
(Option 1) $63,750.24 (Option 2) $57,003.69
(Option 1) $74,206.75 (Option 2) $57,003.69
(Option 1) $63,750.24 (Option 2) $66,259.67
(Option 1) $15,000.00 (Option 2) $14,531.25
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