Question 1 You have decided to invest $7.000 in a fund that pays 13% per year oompound interest while your sister decided to invest the same amount in a fund that pays 13% per year simple interest. What is the difference in total amount behween both dferent interest types after 1 year? GAS000 4S10

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Question 1
You have decided to invest $7,000 in a fund that pays 13% per year compound interest while your sister decided to invest the same amount in a fund that pays 13% per
year simple interest. What is the difference in total amount between both different interest types after 1 year?
GAS1000
ODS100
O Zo
04$10
Transcribed Image Text:respose Question 1 You have decided to invest $7,000 in a fund that pays 13% per year compound interest while your sister decided to invest the same amount in a fund that pays 13% per year simple interest. What is the difference in total amount between both different interest types after 1 year? GAS1000 ODS100 O Zo 04$10
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