Kirk can take his $1,290 income tax refund and invest it in a 36-month certificate...
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Kirk can take his $1,290 income tax refund and invest it in a 36-month certificate of deposit at 6%, compounded monthly, or he can use the money to purchase a home entertainment system and put $37 a month in a bank savings account that will pay him 5% annual interest. Which choice will give him more money at the end of three years?
Kirk can take his $1,290 income tax refund and invest it in a 36-month certificate of deposit at 6%, compounded monthly, or he can use the money to purchase a home entertainment system and put $37 a month in a bank savings account that will pay him 5% annual interest. Which choice will give him more money at the end of three years?
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