If you deposit ​$15 comma 000 today into an account earning an annual rate of return of 9 ​percent, in the third year how much interest would be​ earned? How much of the total is simple interest and how much results from compounding of​ interest?
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Part 1
If you deposit ​$15 comma 000 today into an account earning an annual rate of return of 9​%, in the third year how much interest would be​ earned?