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Ann deposits$90,000into an account that pays simple interest at a rate of4%per year. Jim deposits$90,000into an account that also pays4%interest per year. But it is

Ann deposits$90,000into an account that pays simple interest at a rate of4%per year.

Jim deposits$90,000into an account that also pays4%interest per year. But it is compounded annually.

Find the interest Ann and Jim 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.

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