In the following exercises, you may find it helpful to use a calculator for compound interest. For an account that earns simple annual interest, find the interest and the balance of the account.
ASSIGNMENT 1. In the simple interest formula I = Prt, what does P represent? 2. I low is compound interest different from simple interest? For an account that earns simple annual Interest, find the interest and the balance of the account. 3. P = $500, r = 7%, t = 4 years 4. P = […]