If $7,000 is invested in an account for 25 years. Calculate the total interest earned at the end of 25 years if the interest is: (a) 5% simple interest: $ (b) 5% compounded annually: $ (c) 5% compounded quarterly: $ (d) 5% compounded monthly: $

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03-06-2024
Mathematics

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If $7,000 is invested in an account for 25 years. Calculate the total interest earned at the end of 25 years if the interest is: (a) 5% simple interest: $ (b) 5% compounded annually: $ (c) 5% compounded quarterly: $ (d) 5% compounded monthly: $

Sagot :

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If $7,000 is invested in an account for 25 years. Calculate the total interest earned at the end of 25 years if the interest is: (a) 5% simple interest: $ (b) 5% compounded annually: $ (c) 5% compounded quarterly: $ (d) 5% compounded monthly: $

Sagot :

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