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Maria invests her $150 for 2 years at 4% per year compound interest.
A) Calculate the exact amount Maria has at the end of 2 years.
Maria continues to invest her money at 4% per year compound interest.
After 20 years she has $328.67.
i) Calculate exactly how much more this is than $150 invested for 20 years at
simple interest.
(ii) Calculate $328.67 as a percentage of $150.

Sagot :

Eddie1Wan

Step-by-step explanation:

A)At the end of 2years compound interest=$150(1+4/100)²=$162.24

i) Amount difference=$328.67-{($150×4×20/100)+$150}

=$328.67-$270=$58.67

ii)328.67/150×100%=121.73%

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