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How much compound interest earned over life of investment

Problem: If Steve invests $5,000 in an interest bearing security paying 10% per year for 5 years, what will his investment be worth:

a. if the security pays simple interest?

b. if the security pays interest compounded annually?

c. How much simple interest is earned over the life of the investment?

d. How much compound interest is earned over the life of the investment?

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Finance Basics: How much compound interest earned over life of investment

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Finance Basics: How much compound interest earned over life of investment

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