Homework Answers
Interest earned by 15000 for five years at simple interest rate = (15000x12*5)/100= 9000
interest earned by 15000 compounded annually--
Amount after 5 years= 15000(1+0.12)^5 = 26435.125
Compounded interest earned= 26435.125 - 15000= 11435.125
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PLEASE SOLVE ITT
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Compare the interest earned by $10,000 for four years at 9% simple interest with interest earned by the same amount for four years at 9% compounded annually Why does a difference occur Click the icon to view the interest and annuity table for discrete compounding when 9% per year. The simple interest earned is $ (Round to the nearest dollar.) The compound interest earned is $ (Round to the nearest dollar) There is a difference in the...
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