Several people form groups with four people in each group. Write an expression for the number of groups from doing by p people.
1 answer:
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Step 1
Given;
Required; To find the difference in interest between the two periods.
Step 2
State the formula for simple interest
Step 3
Find the interest when the rate is 8%
Therefore the interest is given as;
Step 4
Find the interest in 1980 with a 20% rate
The interest is given as;
Step 5
Find the difference in interest between the two rates.
Hence, the difference in interest between the two rates = $11095.89