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You deposited $10.00 in your bank at 8% for a period of 6 years. What will be your total amount at the bank according to: a) simple interest, b) compound interest?

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daisy29847

Answer:

Simple=$14.80 Compound=$16.14

Step-by-step explanation:

Simple=A=P(1+rt)

10.00(1+0.08×6)

Compound-A=P(1+r/n)^nt

10.00(1+0.08/6)^12*6

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