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Alex and Courtney Are Each Investing $1,200 Today in a Savings

Question 8

Multiple Choice

Alex and Courtney are each investing $1,200 today in a savings account. Alex will earn 4% interest compounded annually. Courtney will earn 4% simple interest. After five years Alex will have ____ more than Courtney.


A) $19.98
B) $20.13
C) $20.17
D) $20.21
E) $20.28

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