Question

Find the difference in simple interest and compound interest on 2500 at 20% per annum for 3 years.
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Answer 1

Answer:

Answer:2820 or 320

Step-by-step explanation:Compound interest=P(1+r/n)^(nt)

P = the principal investment amount

r = the interest rate (decimal)

n = the number of times that interest is compounded per period

t = the number of periods the money is invested for

2500(1+20/1)^(1x3)=4320

Simple interest=PRT/100

=(2500x20%x3)/100

=1500

Final value=4000

= 43204000

=320

Either of the answers may be right i'm

not sure or

= 43201500

=2820

Step-by-step explanation:

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