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REPOST

You are given a choice of taking the simple interest on

$ 100,000

invested for

3

years at a rate of

4%

or the interest on

$100 comma 000100,000

invested for

3

years at an interest rate of

44%

compounded

monthlymonthly.

Which investment earns the greater amount of interest? Give the difference between the amounts of interest earned by the two investments.

The investment with

compound

interest earns

$nothing

more in interest.

(Round to the nearest cent as needed.)