asked 139k views
5 votes
Two account each begin with an initial balance of Thousand dollars. No additional posits are made one account pays 4% annual simple interest, and other account pays 4% interest compounded annually. What is the difference in the account balances in dollars and cents at the end of 10 years?

asked
User Tgkokk
by
8.0k points

1 Answer

4 votes

Answer:

$800

Explanation:

answered
User Supriya Kale
by
7.4k points
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