Asked by josh wat
to save for a motercyle, abdul deposited $2000 into an account that earned simple interest at 5.4% per year. how much more would the investmennt earn in 3 years if it was invested at 5.4% per year, compounded anually?
Answers
Answered by
Steve
20000*(1+.054*3) = 23240
20000*1.054^3 = 23418
subtract to find the difference
20000*1.054^3 = 23418
subtract to find the difference
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