This afternoon, you deposited $1,000 into a retirement savings account. The account will compound interest at 6 percent annually. You will not withdraw any principal or interest until you retire in 40 years. Which one of the following statements is correct? The interest you earn in Year 6 will equal the interest you earn in Year 10. The interest am

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This afternoon, you deposited $1,000 into a retirement savings account. The account will compound interest at 6 percent annually. You will not withdraw any principal or interest until you retire in 40 years. Which one of the following statements is correct? The interest you earn in Year 6 will equal the interest you earn in Year 10. The interest amount you earn will double in value every year. The total amount of interest you will earn will equal $1,000 times .06 times 40. The present value of this investment is equal to $1,000.  The future value of this amount is equal to $1,000 times (1+40).

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