Mathematics, 03.09.2021 23:20 greenclonetroop6q2tg

Libby and her friend Joe both opened a savings account. Libby made a $500 deposit into her bank account that earns 2.3% simple interest. Joe made a $500 deposit into his bank account, which earns 2.5% compound interest. How much more money will Joe have in his account than Libby after 5 years? HINT: Simple Formula only gives you the Interest, Compound Formula gives you the Total Balance!

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