Question

At time 0, you invest 300 earning 8% simple interest. At time 3, you withdraw the money and invest in a new account earning q% simple discount. At time 8, you have a balance of 520 in the simple discount account. How much interest did you earn between time 3 and time 4? [22.45]

Answer 1

Explanation:

At time 0, you invest 300 earning 8% simple interest. At time 3, you withdraw the money and invest in a new account earning q% simple discount. At time 8, you have a balance of 520 in the simple discount account. How much interest did you earn between time 3 and time 4? [22.