Math, asked by limyj478, 8 hours ago

A deposited $20,000 in a bank which offers 9% and 12% interest compounded annually for the first tow years respectively. How much money would A receive as interest if she withdraw her entire deposit after 2 years. Also find the amount received by her

Answers

Answered by brainlystar365
3

Answer:

Where Is the Concept of Simple Interest Used?

Simple interest may be used in the following financial situations:

Borrowing money: In the case of a loan, you will need to pay interest on the amount you have borrowed.

Lending money: In the case of a savings account, fixed deposit , or recurring deposit

Answered by JennieRocks
27

Where Is the Concept of Simple Interest Used?

Simple interest may be used in the following financial situations:

Borrowing money: In the case of a loan, you will need to pay interest on the amount you have borrowed.

Lending money: In the case of a savings account, fixed deposit , or recurring deposit

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