(4) Find the difference between simple interest and compound interest on 74000 at 10% for 2 years
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Answered by
1
Answer:
SI = (P*R*T) / 100
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Answered by
0
Answer:
Compound Interest
Formula. P[(1+r)^n-1]
74000[(1+0.10)^2-1]
74000 (.21)
15540
Simple Interest
Formula. pnr
74000×0.10×2
14800
Compound Interest - Simple Interest
15540-14800
740
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