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Online ProgramGrant invests in a bond that earns 4.2 percent interest compounded annually. His initial deposit was $700, and he uses the expression $700(1+r)t to find the value of the bond after t years.
* Grant’s cousin Tana opened a savings account that earns 3.3 percent interest compounded annually. Tana also made an initial investment of $700 at the same time that Grant made his initial investment of $700. After 5 years, how much more money will Grant’s investment have earned than Tana’s initial investment? (Round your answer to the nearest cent and ignore the dollar sign when gridding your response.)