Question

Worth 5 points  pls answer both questions

what is the difference between simple intrest and annual intrest ?

Mrs. Sing invests $12,876 for her business at an annual interest rate of 7 percent for 3 years. Which number will Mrs. Sing substitute for r in the simple interest formula?
l=prt < formula

0.007
0.07
0.7
7

Answer 1

0.07

Explanation:

I just took the quiz.

Hope this helps! ^^

Answer 2

Interest is basically a percentage that can be simple or compounded. Simple interest is the amount of a loan. Annual is a form of compounded interest. Compounded interest can be quarterly, monthly, weekly, yearly, etc.

I=Prt
We have to solve for r
r=r/100
7%/100
0.07 per year
Hope This Helps!