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You can invest in an account that pays simple interest or an account that pays...

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You can invest in an account that pays simple interest or an account that pays compound Interest. In either case, you plan to invest $1,600 today and both accounts have an annual interest rate of 5 percent. How much more interest will you receive in the 7th year in the account that pays compound interest? Multiple Choice SB0.00 O S40 06

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