Friday

December 19, 2014

December 19, 2014

Posted by **samuel** on Sunday, June 24, 2012 at 10:33am.

- math -
**Reiny**, Sunday, June 24, 2012 at 11:24amrate = (1.045)^2

= 1.092025

or 9.2025 %

since you want the annual simple interest, the 3 years is irrelevant, all we have to do is look at a 1 year period

- different interpretion - math -
**Reiny**, Sunday, June 24, 2012 at 11:30amlooked at it again....

amount after 3 years at the compound interest

= 1.045^6

= 1.30226

so interest on $1 is .30226

using I = PRT

.30226 = 1(r)(3)

r = .10075

the annual simple interest is 10.075%

check:

Assume we have $100

amount after 3 years using the compound interest

= 300(1.045)^6 = 130.23

amount using simple interest of 10.075%

= 100 + 100(.10075)(3) = 130.23

YEAHHH

**Answer this Question**

**Related Questions**

Math - Meg's pension plan is an annuity with a guaranteed return of 9% interest ...

Math - How to calculate this? 4 year term investment. The investment offers a ...

math - Investor A deposits 1,000 into an account that earns an interest rate of ...

Math 20(interest rates) - Determine the amount of interest charged on a loan of...

Math help! - Which is the better investment over a y year term? Calculate each ...

Math - Which is the better investment over a y year term? Calculate each one. ...

maths-- compound interest - find the compund interest on $2500 for one year at 4...

Algebra - Show how you substitute the values into the formula, then use your ...

math - Ali needs to borrow Rs 500,000 for three years. Which of the following ...

Mathematics - In the problems 1 to 3, find the present value of the given (...