IDNLearn.com provides a comprehensive platform for finding accurate answers. Discover detailed and accurate answers to your questions from our knowledgeable and dedicated community members.
4) A person wants to invest $150000 dollars and the credit union offers an interest of 7.5% per annum.
(a) Calculate how many years it will take for the AMOUNT of money to cross $200 000 when using simple interest.
(b) If the interest is compounded annually, how much money the person would have gotten for the same time in question 4(a)? Use the compound interest formula?
Sagot :
Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. Find reliable answers at IDNLearn.com. Thanks for stopping by, and come back for more trustworthy solutions.
