$10,000 is deposited for 2 years in an account that earns 5% interest. calculate the simple interest earned. calculate the interest earned if interest is compounded daily. how much more interest is earned on the account when interest is compounded daily?
$10,000 is deposited for 2 years in an account that earns 5% interest. calculate the simple interest earned. calculate the interest earned if interest is compounded daily. how much more interest is earned on the account when interest is compounded daily?
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 16E
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$10,000 is deposited for 2 years in an account that earns 5% interest.
calculate the simple interest earned.
calculate the interest earned if interest is compounded daily.
how much more interest is earned on the account when interest is compounded daily?
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