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Upgrading from a HD to SSD will definitely help in read/write times which means that things will load faster and getting written faster. In a lot of cases, that upgrade alone will seem to give an older machine a new leash on life.
However, what you need to determine is if the struggling is happening at specific times which will determine if the SSD is the upgrade that will help. That is, are you seeing issues when you load an application? Issues when you load or save files in that application? If you are experiencing issues here, then an SSD would help.
If you are seeing issues during the operation of an app when it likely has already been loaded and isn't trying to access the HD, the likely culprit there is the amount of available memory and the CPU. Since you can't upgrade either of those, a newer iMac might better suit your uses..