Question: 1. What is the difference between simple interest and compound interest? 2. Suppose you have $500 to invest and you believe that you can earn

1. What is the difference between simple interest and compound interest? 2. Suppose you have $500 to invest and you believe that you can earn 8% per year over the next 15 years. a. How much would you have at the end of 15 years using compound interest? b. How much would you have using simple interest

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