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If $11,000 is invested, $33,000 is the value of the investment at the end of 25 years if the interest is 8% simple interest and $75,333.23 is the value of the investment at the end of 25 years if the interest is 8% compounded annually. This can be obtained by using formulas for simple interest and compound interest.
<h3>What is the formulas of simple interest and compound interest?</h3>- Simple interest
A = P(1 +Rt/100) , P = principle amount ,R = rate of interest, t = time(in years)
- Compound interest (annually)
A = P(1 + R/100)^t , P = principal amount, R = rate of interest, t = time(in years)
<h3>What is the value of investment?</h3>
Given that,
P = $11,000 , R = 8%, t = 25 years
- 8% simple interest
A = P(1 +Rt/100) = = $33,000
- 8% compounded annually
A = P(1 + R/100)^t = =
= $75,333.23
Hence If $11,000 is invested, $33,000 is the value of the investment at the end of 25 years if the interest is 8% simple interest and $75,333.23 is the value of the investment at the end of 25 years if the interest is 8% compounded annually.
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Question: If $11,000 is invested in an account for 25 years. Find the value of the investment at the end of 25 years if the interest is:
(a) 8% simple interest
(b) 8% compounded annually
<h2>Answer:</h2>
yes
<h3>Step-by-step explanation:</h3>This is a piecewise-defined function because it is defined by two or more equations over a specified domain is. The graph of this function is shown below. So this functions is continuous because its graph is a single unbroken curve. So the function is defined be the line 3x - 2 when x = 3 and the output here is y = 7