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Earn +20 ptsQ: What is the difference between a simple interest and compound interest?
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How simple interest and compound interest affect investment exercises?
Compound interest gives you more, but at a low interest rate (less than 10%), the difference is negligible.
What types of functions are used to model both types of simple interest and compound interest?
f(x)= mx+b for simple interest t(n)= abx for compound interest
If you save 4500 at an interest rate of 13 percent how much will you have at the end of seven years?
4500 + (45 x 13 x 7) = 8595 simple interest. 4500 x (1.13)7 = 10586 annual compound interest
Find the formula of simple interest?
the formula for simple interest is I=PRT (interest=principal x rate x time )
How do you calculate simple interest earned?
simple interest = principle (money) times the rate times the time
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