A principal amount of 6,000 will be placed in a savings account. A simple interest account earns an annual percentage of 6.8%, while a compund interest account has an APR of 3.7% compunded quartely. Which account has a larger balance after 20 years?

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A: A $2200 bond earns 9.3% compounded monthly for 9 years.

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A: Sol:- This is a classic example of a "present value of an annuity" problem, where we need to…

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A: Given, Invested amount=7000$ rate of interest= 3.4% No of years=5  Investment after 5 years =?

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A: Thanks for the question :)And your upvote will be really appreciable ;)