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You are given a choice of taking the simple interest on 5100,000 invested for 5 years at a rate of 3% or the interest on

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You are given a choice of taking the simple interest on 5100,000 invested for 5 years at a rate of 3% or the interest on $100,000 invested for 5 years at an intorest rate af 3% compounded monthly. Which investment eams the greater amount of interest? Give the difference betweon the amounts of interest earned by the two investments The investment with interest earns (Round to the nearest cent as needed)

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