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24 January, 15:25

You have $25,000 to invest. You can find an account (Acount A) that guarantees $925 per year. You also found a simple interest account (Account B) that pays 6.5 percent annually. Which account will earn more in interest in 5 years? How much more did the account earn?

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  1. 24 January, 16:39
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    Account A

    A=p+i

    A=25,000 + (925*5)

    A=29,625

    Account B

    A=p (1+rt)

    A=25,000 * (1+0.065*5)

    A=33,125

    How much more did the account B earn

    33,125-29,625

    =3,500
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