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**mom****Member**- Registered: 2012-04-25
- Posts: 94

Is it more profitable to receive $2000 now or $3500 in 10 years? Assume that money can earn 6% interest compounded monthly.

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**bobbym****bumpkin**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 109,458

Hi mom;

I would take the 2000 right now and invest it at the 6% compounded monthly.

**In mathematics, you don't understand things. You just get used to them.****If it ain't broke, fix it until it is.**** Always satisfy the Prime Directive of getting the right answer above all else.**

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