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Find the interest ann and jim earn

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Reference no: EM132674809

Ann deposits $90,000 into an account that pays simple interest at a rate of 4%per year.

Jim deposits $90,000into an account that also pays 4%interest per year. But it is compounded annually.

Find the interest Ann and Jim earn during each of the first three years.

Then decide who earns more interest for each year.

Assume there are no withdrawals and no additional deposits.

Reference no: EM132674809

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