Please answer this please
1 answer:
You might be interested in
Answer:
Independent variable
Step-by-step explanation:
Independent variable :
An independent variable is a variable that speaks to an amount that is being controlled in a trial. A needy variable speaks to an amount whose worth relies upon those controls.
It is the variable in a equation that may have its worth unreservedly picked without thinking about estimations of some other variable.
For example :
In equation , x is an independent variable
Answer:
Principal = $1,000
Rate of interest = 14% = 0.14
Time = 3 years
A = Amount or future value
P = Principal
r = rate of interest in decimals
t = time
Substitute the values in the formula
Future Value is $1481.544
Compound interest = Amount - Principal = $1481.544- $1000 = $481.544
Formula of simple interest :
Substitute the values :
So, Simple interest = $420
Compound interest - Simple interest
= $481.544- $420
= $61.544
So, Compound Interest is $61.544 more than simple interest.