ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Town Bank offers a 2.25% interest rate, while Charter One offers 2.8%. Both banks compound interest annually. If Rob wants to set up a new account with $5, 000, how much more money will he earn at Charter One over Town Bank after 25 years?
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$1, 183.41 fairy wings
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$1, 209.79 space suits
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$1, 251.63 bubble wrap
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$1, 324.10 hula skirts
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Explanation:
There is 1 question to complete.