Year 10 Maths - 10
Indices and Surds
Comparing Simple and Compound Interest
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Questions
Question 1
11418
How much more interest is earned on \(\$ 50,000\) if interest at \({\rm{8\% p}}{\rm{.a}}{\rm{. }}\) is compounded quarterly over \(5\) years, rather than simple interest of \(8\%\) over the same time?
\(\$3466.61\)
\(\$24297.37\)
\(\$4297.37\)
\(\$4297.00\)
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