(Calculating simple and compound interest) (Related to Checkpoint 5.2 on page 168) Jake Mai deposited 300,000 in...

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(Calculating simple and compound interest) (Related to Checkpoint 5.2 on page 168) Jake Mai deposited ¥300,000 in a bank account earning 9 percent per annum.

How much interest will he earn in the fourth year? How much of the total will be simple interest and how much will be the result of compound interest?

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