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Amy deposits $60,000 into an account that pays 6% interest per year, compounded annually. Bill deposits $60,000 into an account that also pays 6% per

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Amy deposits $60,000 into an account that pays 6% interest per year, compounded annually. Bill deposits $60,000 into an account that also pays 6% per year. But it is simple interest. Find the interest Amy and Bill earn during each of the first three years. Then decide who earns more interest for each year. Assume there are no withdrawals and no additional deposits. Year Interest Amy earns Interest Bill earns Who earns more interest? (Interest compounded annually) (Simple interest) O Amy earns more. First $0 $0 Bill earns more. OO 3Amiareaths Atme. amount. Second $0 $0 Bill earns more. Anis reaths some amount. Third $0 $1 Bill earns more. OO They earn the same amount. X

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