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Your sister just deposited $11,000 into an investment account. She believes that she will earn an annual return of 9.9 percent for the next 6 years….

1.      Your sister just deposited $11,000 into an investment account. She believes that she will earn an annual return of 9.9 percent for the next 6 years. You believe that you will only be able to earn an annual return of 9 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 6 years?

$593.42

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$1,596.40

$519.24

$556.33

$397.86

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