Question

Solve this question correctly and step by step.​

Answer 1

Answer:

this is a similar answer may be it help you

Step-by-step explanation:

Investment amount = $1000

Calculate Simple Interest:

Interest for 1 year = 10% x 1000 = $100

Interest for 3 years = $100 x 3 = $300

Calculate compound Interest:

Interest = 1000(1 + 0.1)³ - 1000 = $331

Answer:

(a) The simple interest earned when you invest $1,000 for 3 years at 10 % is $300.

(b) The interest compounded when you invest the same sum for 2 years at 5 % is $331.

Answer 2

Answer:

Given :

☞Principle = 30000 , n = 3 , interest = 7.5%

Find :

☞ sum of end of second year

amount = p(1+i)ñ

= 30000(1+0.075)²

= 30000(1.1556)

= 34668.75 approx

☞sum at end of three years

amount = 30000(1+0.075)²

= 30000(1.2423)

= 37269 approx

☞ intrest earning

amount = 37269-30000 = 7269

Please like .. (◠‿・)—☆