Question

QUESTION 16. In how many years 120 will
produce the same interest at 8% as 800
produce in 3 years at 4 % pa.​

Answer 1

Step-by-step explanation:

For example, a savings account may pay interest monthly, but compound it daily. Each day, the bank will calculate your interest earnings based on the account balance, plus the interest that you've earned that it has not paid out. ... You wait one year and withdraw your money from both accounts.