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Lyle has $1,000 in a bank account paying 2.5% interest per year. At the end of 6 years, the interest earned portion of Lyle's bank

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Lyle has $1,000 in a bank account paying 2.5% interest per year. At the end of 6 years, the interest earned portion of Lyle's bank account balance will be $150 if interest is not compounded, but will be greater than $150 if interest is compounded. True False

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