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    Mathematics

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    Three students each have $1000 to invest from their summer jobs. Armen
    invests his money in an account that earns simple interest at an APR of 5 percent.
    Barok invests his money in an account that earns 4.9 percent interest per
    year compounded annually. Carrie invests her money in an account that earns
    4.8 percent interest per year compounded monthly. Find how much money
    each student has in his or her account after
    2 years
    10 years
    30 years

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    © BrainMass Inc. brainmass.com June 3, 2020, 11:36 pm ad1c9bdddf
    https://brainmass.com/business/interest-rates/investment-simple-interest-287022

    Solution Summary

    This solution contains step-by-step calculations to determine the amount of money each student has in their account after specific number of years.

    $2.19

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