Question
What is the difference in interest earned from investing a single amount of $5,000 for five years at 5% simple interest, versus investing a single
What is the difference in interest earned from investing a single amount of $5,000 for five years at 5% simple interest, versus investing a single amount of $5,000 for five years at 5% compound interest?
- A. $131.50
- B. $879.32
- C. $994.50
- D. $1,220.17
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. Mcguigan, William J. Kretlow
9th Edition
032416470X, 9780324164701
