Taylor deposits $150 in each of two savings accounts. Both have an annual interest rate of 4%. No additional deposits or withdrawals are made. One account earns simple interest, and the other account earns interest compounded annually. How much more does the compound interest account earn than the simple interest account after 20 years?
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Home » Mathematics » Taylor deposits $150 in each of two savings accounts. Both have an annual interest rate of 4%. No additional deposits or withdrawals are made. One account earns simple interest, and the other account earns interest compounded annually.