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26 Question 6 How much more money would you make on the investment that pays interest compounded annually compared to the one that pays simple interest, given the 10% interest rate, $250,000 deposit amount and 12 years? 27 28 29 30 Interest rate # of years Deposit 250,000 31 10.00% $ 12.00 32 33 34 35 Simple interest per year Total simple interest 36 37 38 FV with simple interest 39 40 Compound interest 41 42 Difference 43 44 45 46