Problemben invested 5000 twenty years ago with an insurance, Ask an Expert

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Ben invested $5,000 twenty years ago with an insurance company that has paid him 5 percent simple interest on his funds. Charles invested $5,000 twenty years ago in a fund that has paid him 5 percent interest, compounded annually. How much more interest has Charles earned than Ben over the past 20 years? Show all work and explain in detail.

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