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You want to compare a bank account paying simple interest and a bank account paying compound interest. In either case, you plan to invest $2,000
You want to compare a bank account paying simple interest and a bank account paying compound interest. In either case, you plan to invest $2,000 today and both accounts have an annual interest rate of 9%. How much more interest would you receive in the 11th year if you choose the account that pays compound interest compared to the account that pays simple interest? Multiple Choice $246.13 $180.00 $258.98 $263.29
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