Question: 1. A retirement account is opened with an initial deposit of $8,500 and earns 8.12% interest compounded monthly. What will the account be worth in

1. A retirement account is opened with an initial deposit of $8,500 and earns 8.12% interest compounded monthly. What will the account be worth in 20 years? What if the deposit were compounded monthly with simple interest? Could you see the situation in a graph? From what point one is better than the other?

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