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Here are two ways of investing $15,000 for 10 years. Lump-Sum Deposit Rate Time $15,000 10% compounded 10 years annually Periodic Deposit Rate Time $1500

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Here are two ways of investing $15,000 for 10 years. Lump-Sum Deposit Rate Time $15,000 10% compounded 10 years annually Periodic Deposit Rate Time $1500 at the end of 10% compounded 10 years each year annually P[(1 + r) - 1] Use this information and the formulas A=P(1 + r) and A= to complete parts a. and b. below. a. After 10 years, how much more will you have from the lump-sum investment than from the annuity? You will have approximately $ 15000 more from the lump-sum investment than from the annuity. (Round to the nearest dollar as needed.) b. After 10 years, how much more interest will be earned from the lump-sum investment than from the annuity? The interest earned on the lump-sum investment will be approximately $_more than the interest earned from the annuity. (Round to the nearest dollar as needed.)

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