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Jeremy opened two savings accounts at the beginning of 2010, each with an initial deposit of

$4,000. He deposited $500 into each account at the beginning of 2011 and 2012. Both

accounts had an interest rate of 3.15%. Account A earned simple interest, and account B

earned interest that was compounded annually. By the end of 2012, which account earned

more interest, and how much more interest did it earn?

User Dave Dave
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1 Answer

1 vote

account b has 2.6% more interest than account a

User Nitin Pawar
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