You have $5,000.00 available for deposit into a savings account today and can choose to make the deposit in an account that offers either simple or compounded interest. If both accounts offer an 8.5% annual interest rate and you require the funds in 5 years, what will be the difference between the final balances in each account?

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a

$67.42

b

$189.17

c

$393.28

d

No difference.