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Homework answers / question archive / You can invest in an account that pays simple interest or an account that pays compound interest

You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to invest $730 today and both accounts have an annual interest rate of 4.9%. How much more interest will you receive in the 8th year in the account that pays compound interest? Round your answer to the nearest penny, and do not type the "$" sign.

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