John deposits $5000 into a bank for 5 years. (a) If he chooses simple interest at...

John deposits $5000 into a bank for 5 years.

(a) If he chooses simple interest at 6% annually. How much he will have when the term ends?How much interest he has earned?

(b) If he chooses compounded interest at 5% annually. How much he will have when the term ends? How much interest he has earned?

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