TIBCO CCAT Cognitive Assessment Test

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Jenny discovered a bank that pays 3% interest on savings accounts annually. Amy, Jenny's sister, discovers a new bank account with 3.75% interest each year. How much more money will Amy have after 10 years if they each invest $500 today and don't access their bank accounts throughout that time?

$$722.52 $$50.56 $$34.78 $$671.96

Correct Answer:

$$50.56

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