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Please answer question 3 thank you. 3. READ CAREFULLY: You can invest in an account that pays simple interest or an account that pays annual

image text in transcribedPlease answer question 3 thank you.

3. READ CAREFULLY: You can invest in an account that pays simple interest or an account that pays annual compound interest. In either case, you invest $3,800 in both accounts and have an annual interest rate of 6%. How much more interest will vou receive in the 10th year from the compounded interest account than from the simple interest account. [14 points]

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