Asked by apryl
$3,000 at 8% for 30 years
(a) Calculate the future amount if the money were invested at simple interest
(a) Calculate the future amount if the money were invested at simple interest
Answers
Answered by
Reiny
amount = 3000 + 3000(.08)(30) = 10200
(nobody invests money for 30 at simple interest)
(nobody invests money for 30 at simple interest)
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