Answer:
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Step-by-step explanation:
-10 times 12
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1. Balance after 1 year with simple interest= 600 + (2.5 x 12) = 600 + 30 = $630
2. Balance after 1 year with compounded interest = P ( 1 + 

= 600 ( 1 + 
= 600 (1.0511) = $630.66 = approx. $630