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QUESTION 24 Find the amount by which the interest compounded annually is larger than the simple interest. First calculate the simple interest by using PBT

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QUESTION 24 Find the amount by which the interest compounded annually is larger than the simple interest. First calculate the simple interest by using PBT and then calculate the compound amount uning either the compound Interest table or the formula P[11) n, then subtract the principal to get the compound interest

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