Algebra
posted by shirley .
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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