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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 $1,500

You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to invest $1,500 today and both accounts have an annual interest rate of 8 percent. How much more interest will you receive in the 8th year in the account that pays compound interest?

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