Describe the difference between simple and compound interest.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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4. Describe the difference between simple and compound interest.
Transcribed Image Text:4. Describe the difference between simple and compound interest.
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