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You are going to loan your friend $1,000 for one year at a 6% rate of interest. How much additional interest can you earn if

You are going to loan your friend $1,000 for one year at a 6% rate of interest. How much additional interest can you earn if you compound the rate monthly rather than annually?

$1.00

$0.68

$1.37

$1.50

$1.68

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