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