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If you have a choice to earn simple interest on $5,000 for five years at 8% annually or compound interest at 7.5% annually for five

If you have a choice to earn simple interest on $5,000 for five years at 8% annually or compound interest at 7.5% annually for five years, which one will pay more and by how much? None of these is correct Simple interest by $178.15. Compound interest by $394.47. Compound interest by $461.46. Compound interest by $178.15

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