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April 16, 2014

Homework Help: Algebra

Posted by shirley on Monday, May 28, 2012 at 4:00pm.

Compare the future amounts (A) you would have if the money were invested at simple interest and if it were invested with annual compounding.
$3,000 at 11% for 20 years

(a) Calculate the future amount if the money were invested at simple interest.
$

(b) Calculate the future amount if the money were invested with annual compounding. (Round your answer to the nearest cent.)
$

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