Question

1. Calculate the difference between the simple
interest and the compound interest on 4,000
in 2 years at 8% per annum compounded
yearly,​

Answer 1

Answer:

hope it's helpful

pls mark me brainlist.

Answer 2

Answer:

25.6

Step-by-step explanation:

Simple interest = PRT ÷ 100

Simple Interest = (4000 × 8% × 2) ÷ 100

Simple Interest = 64000 ÷ 100

Simple Interest = 640

So, 4000 + 640 = 4640 in simple interest

Compound Interest = P (1 + R/100)^T

Compound Interest = 4000 × (1 + 8/100)²

Compound Interest = 4000 × (1 + 0.08)²

Compound Interest = 4000 × 1.08²

Compound Interest = 4000 × 1.1664

Compound Interest = 4665.6

So, 4665.6 in compound interest

Difference = 4665.6 - 4640

= 25.6