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Simple Interest
i need help with my simple interest homework fast.
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Mr. Simpson deposits his money in a savings account at the Springfield Bank. Would he earn more money with simple interest or
Top answer:
D Compound interest earns more because the amount on which interest is paid increases over time.
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Deborah deposits $200 into an account that pays simple interest at the rate of 7%. How much will she have at the end of 4
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see whether you can apply these formulas, which you should have seen: 200(1+.07 * 4/12)
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The formula used to calculate simple interest is modeled by I=prt, where I=simple interest, p=principle, r=interest rate, and
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- p=I/rt - r=I/pt - t=I/pr - All of the above All of the above represent alternative equivalent
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The formula used to calculate simple interest is modeled by I=prt, where I=simple interest, p=principle, r=interest rate, and
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L - rt = p and P = l / rt are alternative equivalent versions of the simple interest formula.
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The formula used to calculate simple interest is modeled by I=prt, where I=simple interest, p=principle, r=interest rate, and
Top answer:
I = p + rt
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How does compound interest differ from simple interest?
1. Compound interest occurs with periodic intervals of time, while simple
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You're mostly correct! Here's a more detailed explanation: 1. Compound interest occurs with periodic
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What is the difference between simple interest and compound interest?
a Compound interest is unpredictable, and does not allow
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d A simple interest rate earns interest only on the original principal, while compound interest
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Compare simple interest at 3% and compound interest at 2% with interest being compounded monthly when $750 is invested for 1
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Simple interest at 3% offers more financial gains.
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What type of interest is based on the original amount of money lent out, or the principal?
(1 point) Responses simple interest
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The correct answer is: simple interest
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Compare simple interest at 3% and compound interest at 2% with interest being compounded monthly when $750 is invested for 1
Top answer:
Compound interest at 2% offers more financial gains
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