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1. Explain the difference between simple interest and compound interest, and describe why that difference is critical 2. If $11,550 is invested at 7.3% for

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1. Explain the difference between simple interest and compound interest, and describe why that difference is critical 2. If $11,550 is invested at 7.3% for 12 years find the future value if the interest is compounded: . (a) monthly (b) continuously (c) simple (not compounded) Show your work

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