SOLUTION: A $3000 investment earns simple interest at 8% for 48 months. What is the difference in interest earned if it was compounded annually at 8% instead?
Thanks
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Question 1131500: A $3000 investment earns simple interest at 8% for 48 months. What is the difference in interest earned if it was compounded annually at 8% instead?
Thanks
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
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$121.47 difference
I'm assuming both interest rates are annual rates
You can get a 2nd opinion also
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