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Ann deposits $800 into a fund earning an annual simple interest rate of 6%. Mike deposits $X into a fund earning an annual simple interest
Ann deposits $800 into a fund earning an annual simple interest rate of 6%. Mike deposits $X into a fund earning an annual simple interest rate of 9%. Each year, Ann earns twice the interest that Mike does. Calculate X.
A) 133.33
B) 266.67
C) 400.00
D) 533.33
E)1,066.67
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