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Mathematics, 03.02.2021 03:10 anikalee

21. Sim has a very safe investment opportunity. He can invest his $642.164 into one of the following accounts. a) An account earning 3.875% annual interest compounded annually. b) An account earning 3.820% annual interest compounding monthly

If he plans to invest his money for 10 years identify which is the better scenario? Prove that you know this by identifying the exact dollar amount difference between the two investments over the 10 year period. Your answer

needs to be to the nearest penny. You have a calculator so this should not be an issue!

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