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alyssa94 alyssa94
  • 03-11-2016
  • Mathematics
Answered

How much more money is earned on a $2,500 investment at 2% annual compound interest for 5 years than a $2,500 investment at 2% simple annual interest for 5 years?

Verified Answer :

Asahi
Asahi Asahi
  • 04-11-2016


simple: 2500(1+0.02)^5
$2760.20

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