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What would be the simple interest earned on this investment

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Reference no: EM132859205

Question - Betty Harris deposited $4,300 today in an account paying 7 percent interest annually.

a) What would be the simple interest earned on this investment in 5 years?

b) With annual compounding, how much interest-on-interest would Betty earn in 5 years?

Reference no: EM132859205

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