Multiple Choice
Ben invested $5,000 twenty years ago with an insurance company that has paid him 5 percent simple interest on his funds.Charles invested $5,000 twenty years ago in a fund that has paid him 5 percent interest,compounded annually.How much more interest has Charles earned than Ben over the past 20 years?
A) $0
B) $2,109.16
C) $3,266.49
D) $7,109.16
E) $8,266.49
Correct Answer:
Verified
Correct Answer:
Verified
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