Angel invests money in an account paying simple interest. He invests $110 and no money is added or removed from the investment.
1 answer:
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Answer:
Step-by-step explanation:
Given that a bank representative studies compound interest, so she can better serve customers. She analyzes what happens when $2,000 earns interest several different ways at a rate of 2% for 3 years.
a) the interest if it is computed using simple interest. 12.00
= dollars
b) the interest if it is compounded annually.
= dollars
c) the interest if it is compounded semiannually
=
d) the interest if it is compounded quarterly.
=
e) the interest if it is compounded monthly.
=