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Dale invests $500 in an account that pays 6% simple interest. How much more could he have earned over a thirty year period if the interest had compounded annually?
A. $1,471.75
B. $2,256.12
C. $1,621.25
D. $1,804.12
Please show calculations.
Thirty years ago, your father invested $6,000. Today that investment is worth $67,270.98. What is the average rate of return your father earned on this investment?
A. 11.67%
B. 8.44%
C. 10.23%
D. 8.39%
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