document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1036619>Question 1036619</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 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? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #651328 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel555><B>jorel555(1290)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel555><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=651328\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> $12585 * .035=$440.475 interest per year; for 5 years that equals $2202.375 total interest.  Compounded annually, your total account is 12585 * 1.035^5=14947.032156. Subtracting the original amount, you get 2362.03 total interest. $2362.03-2202.375=$159.66 more interest earned when compounded annually, versus simple interest. </SPAN>\n" );
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