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26-03-2024
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Will you earn more interest in one year by depositing $3000 in a simple interest account that pays 4% or in an account that pays 3.9% interest compounded daily? How much more interest will you earn?
a) Simple interest account, $0.30
b) Compound interest account, $0.30
c) Simple interest account, $10
d) Compound interest account, $10

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