Question
URGENT! Ben invested $5,000 fifteen years ago with an insurance company that has paid him 4 percent simple interest on his funds. Charles invested $5,000
URGENT!
Ben invested $5,000 fifteen years ago with an insurance company that has paid him 4 percent simple interest on his funds. Charles invested $5,000 fifteen years ago in a fund that has paid him 4 percent interest, compounded annually. How much more interest has Charles earned than Ben over the past 15 years?
A.$6,827.04
B.$0
C.$7,109.16
D. $1,004.72
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Money Banking And Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
3rd Edition
007337590X, 9780073375908
