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Compare the interest earned by $15,000 for seven years at 13% simple interest with that earned by the same amount for seven years at 13%
Compare the interest earned by
$15,000
for seven years at
13%
simple interest with that earned by the same amount for seven years at
13%
compounded annually.\ The interest earned by
$15,000
for seven years at
13%
simple interest is
$28650
. (Round to the nearest dollar.)
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