# Algebra

posted by
**shirley** on
.

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.)

$