Question
Asked Jan 20, 2019

An investment of $20,000 earns 7.5% interest. Find the value after 15 years if the intrest is (a) simple and (b) compond.

check_circleExpert Solution
Step 1

Given below is the formula for Simple interest, where P is the Principal, r is the rate of interest and t is the time. Substituting values we get the next equation as:

S.I= ...

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