Question
Sameer has saved $84,500 over the years and she has the option of investing it in...
Sameer has saved $84,500 over the years and she has the option of investing it in either of the following two investment plans. Investment A offers 14 percent interest compounded monthly, whereas Investment B pays 16 percent interest compounded semiannually. What would be the difference between the interests earned on the two investments if Sameer's investment horizon is five years? (Round your answer to two decimal places.)
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