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Provide an Appropriate Response

Question 6

Multiple Choice

Provide an appropriate response.
-Find the amount by which the interest compounded annually is larger than the simple interest.
Round to the nearest cent. Use the formula Provide an appropriate response. -Find the amount by which the interest compounded annually is larger than the simple interest. Round to the nearest cent. Use the formula to find the compound amount. Principal: $620 Rate: 5% Years: 7 A) $438.40 B) $655.40 C) $35.40 D) $24.86 to find the compound amount.
Principal: $620 Rate: 5% Years: 7


A) $438.40
B) $655.40
C) $35.40
D) $24.86

Correct Answer:

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