Provide an appropriate response.
-Find the amount by which the interest compounded annually is larger than the simple interest.
Round to the nearest cent. Use the formula 
to find the compound amount.
Principal: $6,260 Rate: 6% Years: 18
A) $4,847.36
B) $11,107.36
C) $4,211.56
D) $4,346.56
Correct Answer:
Verified
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