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77julia77 [94]
3 years ago
14

Anne deposited $500 in an account that earns 6% simple annual interest. Shelly deposited $500 in an account that earns 6% annual

interest compounded annually. They leave the money in the account for 4 years. What is the difference between the two accounts?

Mathematics
1 answer:
Mrac [35]3 years ago
7 0

Answer:

$11.23

Step-by-step explanation:

A) 500 +  4(.06*500)

500+4\left(0.06\cdot \:500\right)=620

B) 500\cdot \:1.06^4=631.23848

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