Determine whether the following statement is true or false. If the statement is false, make the necessary change(s) to produce a true statement.
Formulas for compound interest show that a dollar invested today is worth more than a dollar invested
in the future.
Choose the correct answer below.
A. The statement is true.
B. The statement is false. Formulas for simple interest show that a dollar invested today is worth
more than a dollar invested in the future.
C. The statement is false. Formulas for compound interest show that a dollar invested today is
worth the same as a dollar invested in the future.
D. The statement is false. Formulas for compound interest show that a dollar invested today is
worth less than a dollar invested in the future.