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3 years ago

(a) Complete the ratio table shown. Show your work.

Mathematics

1 answer:

ella [17]3 years ago

3 0

I = Prnwhere I is the interest, P is the principal, r is the decimal equivalent of the given rate, and n is the number of years. In this item, we assume that n is equal to 1. Solving for the interests, $200: I = ($200)(0.03)(1) = $6 $150: I = ($150)(0.03)(1) = $4.5The difference between the two calculated interests is $1.5.
Therefore, you could have earned $1.5 more if you invested $200 rather than $150.
hope this helps (^>^)

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<h3>What is compound interest?</h3>

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A = Account Balance

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t = Number of Years

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