Question: 6. What is the difference between simple interest and compound interest? (4 pts) simple accumulates ohly on principle balance, compound accumulates on principle and interest

6. What is the difference between simple interest and compound interest? (4 pts) simple accumulates ohly on principle balance, compound accumulates on principle and interest 7. You have $12.000 to invest for 5 years. Decide which investment is best. Explain why and show all your work. (8pts) A savings account offering 2.76% interest compounded continuously. A savings account offering 2.85% compounded monthly. A savings account offering 3.5% simple interest. 8. Calculate the profit if you purchase 2174 shares of a stock currently worth $5.45 per share with a commission of 1.25 for both buying and selling and sell them for $7.35 per share at the end of the five years. (6 pts)

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