Today, Tony is investing $16,000 at 6.5 percent, compounded annually, for 4 years. How much additional income could he earn if he had invested this amount at 7 percent, compounded annually?
A) $323.22
B) $389.28
C) $401.16
D) $442.79
E) $484.08

Question

Quizplus · Accepted Answer

The Answer of Today, Tony is investing $16,000 at 6.5 percent, compounded annually, for 4 years. How much additional income could he earn if he had invested this amount at 7 percent, compounded annually?
A) $323.22
B) $389.28
C) $401.16
D) $442.79
E) $484.08

Today, Tony Is Investing $16,000 at 6