QuestionCompare the future amounts $(A)$ you would have if the money were invested at simple interest and if it were invested with annual compounding. (Rou $\$ 7,600$ at $13 \%$ for 30 years simple interest $A=\$ 37240$ $\square$ Great! compound interest $A=\$$ $\square$ Suggested tutorials:

Studdy Solution
Compare the future amounts: - Simple Interest: \$37,240 - Compound Interest: \$283,776.40
The compound interest amount is significantly higher than the simple interest amount.
The future amount with compound interest is approximately:
$\boxed{283,776.40}$

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