ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Jason is going to invest $250 in a savings account. He plans to keep the money in the savings account for 3 years to earn interest at the rate of 2%, compounded annually. How much less money will Jason have in this account at the end of 3 years if he earns only simple interest?Hint:Solve it both ways
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$0.30
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$15.00
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$15.30
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$250.30
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Explanation:
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