111k views
1 vote
I need answerrr plssss

I need answerrr plssss-example-1

1 Answer

5 votes

25.6

The question is asking for the difference between 4000 compounded interest and 4000 with simple interest.

So simply calculate 4000 compounded by 8% per annum for 2 years:

4000(1+0.08)^2=4665.6

Now calculate 4000 with simple interest of 8% per annum for 2 years:

4000(1+0.08×2)=4640.

Now subtract the simple interest amount from the compounded amount:

4665.6-4640=25.6

Hope that helps :)

User Anshul Kataria
by
7.8k points