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Tara sold her Volkswagen and placed $9,500 in a savings account paying annual compound interest of 5.5%. Calculate the amount of money that will have
Tara sold her Volkswagen and placed $9,500 in a savings account paying annual compound interest of 5.5%.
Calculate the amount of money that will have accrued if the interest rate changed to 6% and paid only simple interest for 1, 3 and 5 years.
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