Calculate the Future Amounts $( A )$ You Would Have If $1,500 Were Invested at 9% for If

question 143

Short Answer

Calculate the future amounts $( A )$ you would have if $1,500 were invested at 9% for 7 years with simple interest and if it were invested with annual compounding. What is the difference between the two to the nearest cent, and does compound interest yield more or less than simple interest? at simple interest, $ __________; with annual compounding, $ __________; difference, $ __________; thus compounding gives: __________ (Answer more or less )

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