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You just received a tax refund of $1,150 that you would like to invest. You are considering two investments. Southwestern Co. offers an investment paying

You just received a tax refund of $1,150 that you would like to invest. You are considering two investments. Southwestern Co. offers an investment paying 7 percent compounded annually. Northeastern Co. offers an investment paying 6.85 percent compounded monthly. What investment should you choose and why?

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