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Please kindly solve this question in full detail so that I can understand it. THANK YOU! What is the difference between simple interest and compound

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Please kindly solve this question in full detail so that I can understand it. THANK YOU!

What is the difference between simple interest and compound interest? Suppose you have $500 to invest and you believe that you can earn 8% per year over the next 15 years. How much would you have at the end of 15 years using compound interest? How much would you have using simple interest

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