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You Have $500 in an Account Which Pays 5% Compound

Question 63

Multiple Choice

You have $500 in an account which pays 5% compound interest. How much additional interest would you earn over four years if you moved the money to an account earning 6%?


A) $21.89
B) $23.49
C) $24.93
D) $25.88
E) $29.94

Correct Answer:

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