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Lynn invests $5000 in a bond trust that pays 7% interest compounded semiannually. Her friend Lyla invests $5000 in a certificate of deposit that pays
Lynn invests $5000 in a bond trust that pays 7% interest compounded semiannually. Her friend Lyla invests $5000 in a certificate of deposit that pays 6.8% compounded monthly.
How much money does Lynn have after 20 years? Round your answer to 2 decimals
How much money does Lyla have after 20 years? Round your answer to 2 decimals
Who has more money after 20 years, Lynn or Lyla? (Answer in a complete sentence.)
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