find the difference between compound intrest and the simple intrest on $30000 at 7 per annum for three year
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SI=30000*7*3/100=$6300
Amount for CI=30000*(1+7/100)³
=30000*107/100*107/100*107/100=36751.29
CI=36751.29-30000=6751.29
difference=6751.29-6300=$451.29
hope it helps
Amount for CI=30000*(1+7/100)³
=30000*107/100*107/100*107/100=36751.29
CI=36751.29-30000=6751.29
difference=6751.29-6300=$451.29
hope it helps
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