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Financial Math - MA2007
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Question 21
21
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Question 21 • Financial Math - MA2007
How much more interest is earned on an investment of $12,585 at 3.5% interest over 5 years if the interest is compounded annually rather than earning simple interest?a.They are the same.b.$159.65c.$2,362.03d.$12,744.65
Answer
A
A
B
B
C
C
D
D
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