You are going to invest R7 000 and you have a choice of two bank accounts: ...
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You are going to invest R7 000 and you have a choice of two bank accounts:
- Account 1 is a simple interest account paying 7% interest per annum.
- Account 2 is a compound interest account paying 5% interest per annum.
If you are to withdraw your money after 12 years, which account would have the most money?
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