A music festival charges $54.95 per ticket sold on the day of the event. A ticket purchases before the festival costs only $39.9
1 answer:
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Step-by-step explanation:
Simple interest formula
Compound interest formula
a.
Simple interest is $125
b
.
Compound interest is $125
c. the result for both a and b are the same
d.
the simple interest is $375
e
.
the compound interest is $385
f. the result compared, compound interest is $10 more than simple interest
g.
the simple interest is $600
h.
the compound interest is $4869
i. the result from g and h, h is over 8 times bigger than g.
j. interest compound annually is not the same as simple interest, only for the case of a and b seeing that it is for 1 year. but for 2years and above there is difference as seen in c to h