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Assume Jimmy invests $1,000 with the interest rate of 10% for five years. Assuming the interest rate compounds annually, which of the following is true?
Assume Jimmy invests $1,000 with the interest rate of 10% for five years. Assuming the interest rate compounds annually, which of the following is true?
A.) Neither are correct
B.) The compound interest is $601.50
C.) The difference between the sample and compound interests is $101.50
D.) Both are correct
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