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You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to invest $3,600
You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to invest $3,600 today and both accounts have an annual interest rate of 8 percent. How much more interest will you receive in the 7th year in the account that pays compound interest? Select one: a. $169.02 b. $186.18 c. $181.87 d. $182.69 e. $288.00
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