Al, Ralph, and Stan Are All Intending to Retire

question 177

Multiple Choice

Al, Ralph, and Stan are all intending to retire. Each currently has $1 million in his retirement account. Al will earn 16% interest and retire in two years. Ralph will earn 8% interest and retire in four years. Stan will earn 4% interest and retire in eight years. Who will have the largest sum when he retires?

• A)Al
• B)Ralph
• C)Stan
• D)They all retire with the same amount.

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