Answer:
Simple: 6000
Compound: 6050
Difference: 50
Step-by-step explanation:
Simple interest formula: A = P(1+rt), where A = final amount, P = initial amount, r = rate, and t = time. Plug our values in to get
A = 5000(1+10% * 2)
convert 10% to a decimal by dividing by 100 and plug that in
10% = 0.1
5000(1+0.1*2) = 5000(1.2) = A = 6000
Compound interest formula: A = P(1+r)^t
Plug our values in
5000(1+0.1)^2 = 6050
Difference = 6050 - 6000 = 50
to do this all you have to do is subtract 9.185 form 10 to get .815ft
Answer:
is there a figure for this question?
Answer:
The debt snowball method is a debt reduction strategy where you pay off debt in order of smallest to largest, gaining momentum as you knock out each balance. When the smallest debt is paid in full, you roll the money you were paying on that debt into the next smallest balance.
Step-by-step explanation:
