First choice 15.75, second 18.00, so better by 2.25 a year
Rate of interest.
You would first find the percent (if it was 5% interest (for example) on a calculator you would do the amount then multiply by 5, then click the percent, by hand: you would multiply the amount you paid for then multiply by 0.05 then you would get the interest; simple math :D
289 in the first year.
If the annual equivalent rate of interest is 8.5 percent then it makes no difference how frequently it is compounded. The amount will grow to 9788.81 On the other hand 8.5 percent interest daily is equivalent to 8.7 trillion percent annually! If my calculation is correct, after 6 years the amount will have grown to 2.85*10198 (NB 10200 = googol squared).
Simple interest refers to interest that is only paid on principal. Simple discount refers to the amount that is deducted from the amount of the loan.
It is 240 currency units.
U get a amount of 30.