R1 000 is invested at 10% simple interest for three years and R1 000 i

1.	R1 000 is invested at 10% simple interest for three years and R1 000 is invested at 8% compounded annually for three years. Which is a better investment and by how much?
Answer» ANSWER: Simple INTREST =(Principal rate time)/100 Compound Interest= principle (1+R/100)^time put the values in the FORMULA you will get the amount which you have to SUBTRACT from principle and the REMAINING amount which is higher will be better

R1 000 is invested at 10% simple interest for three years and R1 000 is invested at 8% compounded annually for three years. Which is a better investment and by how much?

Answer»

Simple INTREST =(Principal *rate *time)/100

Compound Interest= principle (1+R/100)^time

put the values in the FORMULA you will get the amount which you have to SUBTRACT from principle and the REMAINING amount which is higher will be better

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R1 000 is invested at 10% simple interest for three years and R1 000 is invested at 8% compounded annually for three years. Which is a better investment and by how much?

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