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If you have a choice to earn simple interest on $10,450 for 5 years at 8.2% or annually compound interest at 11.5% for 5 years,
If you have a choice to earn simple interest on $10,450 for 5 years at 8.2% or annually compound interest at 11.5% for 5 years, which one will pay more, and by how much?
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