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Percentages

a) $P is deposited in a bank for 2 years at 8% p.a. Express the interest in terms or P if the interest is
i) calculated using simple interest. (done already and the answer is 0.16P)
ii) compounded yearly.
b) if the difference between the simple interest obtained in (a)(i) and the compounded interest obtained in (a)(ii) is $240, find the value of P.

解答 0

  • Kms
    2019-10-02 00:06:13
    a) ii) P(1+8%)^2-P b) ans of (ii) - ans of (i) = 240, then using this equation to find the answer
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