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The interest paid annually is 700*5/100 = 35
Simple interest I=Prt = (5000)(0.07)(2) = $700.Compound interest: A=P(1+r)t = 5000(1.07)2 = 5000(1.1449) = $5,724.50;I=A-P = 5,724.50 - 5000 = $724.50
It is 5000*[(1+8/100)2 - 1] = 5000*[1.1664 - 1] = 5000*0.1664 = 832
5000 x 6/100 x 83/365 = (300 x 83)/365 = 68.22
50 x 7 x 2 ie 700 Simple Interest; 5000 x (1.07)2 - 5000 ie 724.50 Compound Interest