VonneB1684
19.07.2019 •
Mathematics
Describe the difference between simple and compound interest and which type of interest earns money more quickly
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Ответ:
With compound interest, interest is "compounded" or added a specific number of times per year. After the interest is added, the next time it is calculated, the amount is based on the total amount in the account.
For example, if we deposit $100 at 2% compound interest that is compounded yearly, the first year our interest would be 0.02(100) = $2. Before the interest is calculated the next year, this $2 is added to the account, making it $102. This is the value we use to calculate the next year's interest: 0.02(102) = $2.04.
Because of this, compound interest grows more quickly.
Ответ:
part A: 90/725
Part b: 165/225
Part c: 100/245
Part d: these events are not independent.
Step-by-step explanation: