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Angie invests $3,100 into a savings account that earns 3.5% compounded annually. Bill invests $3,100 into a different savinges account that earns 3.25% annually.
Angie invests $3,100 into a savings account that earns 3.5% compounded annually. Bill invests $3,100 into a different savinges account that earns 3.25% annually. Note that these two investment plans are the same except for a small difference in interest rates. (Simplify your answers and round to two decimal places.) a. Compute the balance in the accounts after 10 and 25 years. Angie will have a balance of after 10 years and a balance of after 25 years. Bill will have a balance of after 10 years and a balance of after 25 years. b. Discuss the difference. After 10 years, Angie will have (dollar amount) or (percentage)? than Bill. (dollar amount) or (percentage)? than Bill. After 25 years, Angie will have
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