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8. You have $1000 to invest. Bank of Albert offers you a certificate of deposit that pays 6% simple interest annually. Honest Al's Savings and

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8. You have $1000 to invest. Bank of Albert offers you a certificate of deposit that pays 6% simple interest annually. Honest Al's Savings and Loan offers you a platinum savings account that offers you 5.2% compounded annually. How much will each investment give you in interest if you invest your $1000 for ten years? Simple Interest: I = Prt. Compound Interest: A = P(1+r)

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