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Mathematics 25 Online
OpenStudy (anonymous):

Abe plans to use $21,000 to open a savings account with an annual interest rate of 6%. How much more interest will he earn over 4 years if he chooses a compound interest account, with interest compounded annually, instead of a simple interest account? interest compounded annually: A = P (1 + r)t simple interest: I = P • r • t

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