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4. If your balance on an investment of $100 that has been invested at a rate of 7.5% is $178.35 at the end of 8 years, does the plan have simple interest or compound interest?
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3 votes
4. If your balance on an investment of $100 that has been invested at

a rate of 7.5% is $178.35 at the end of 8 years, does the plan have simple
interest or compound interest?

User Justcurious
by
8.4k points

1 Answer

5 votes

Answer:

Simple interest

Explanation:

Because its a period of 8 years

User Tabish Usman
by
8.6k points
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