The difference between simple and compound interest. Suppose you invest $5000 in a savings account that pays an APR of 0.4%. ea § If the account pays simple interest, what is the balance in the account after 20 years? cm (Enter your answer rounded to the nearest dollar.) The balance in the account after 20 years with simple interest is $ 5400 If interest is compounded monthly, what is the balance in the account after 20 years? (Enter your answer rounded to two decimal places.) The balance in the account after 20 years with monthly compounding is $
