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Account 1: You deposit $1,000 into an account that pays 5% simple interest on that $1,000 each year.
Account 2: You deposit $1,000 into an account that pays 5% of the account balance at the beginning of the current year in interest each year.
Why does the value of the compound interest account grow faster?
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Chapter 1 Solutions
ALEKS 360 ACCESS CODE- PATHWAY MATH LIT
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