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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 $3,500
You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to invest $3,500 today and both accounts have an annual interest rate of 9 percent. How much more interest will you receive in the 6th year in the account that pays compound interest?
$182.52
$183.34
$169.67
$315.00
$186.83
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