Homework Help: mathematic 11

Posted by josh wat on Tuesday, May 15, 2012 at 3:58pm.

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?

mathematic 11 - Steve, Tuesday, May 15, 2012 at 5:28pm
20000*(1+.054*3) = 23240
20000*1.054^3 = 23418

subtract to find the difference

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