Provide an appropriate response.
-Find the amount by which the interest compounded annually is larger than the simple interest.
Round to the nearest cent. Use the formula to find the compound amount.
Principal: $620 Rate: 5% Years: 7
A)$438.40
B)$655.40
C)$35.40
D)$24.86

Question

Provide an appropriate response.
-Find the amount by which the interest compounded annually is larger than the simple interest.
Round to the nearest cent. Use the formula  to find the compound amount.
Principal: $620 Rate: 5% Years: 7 
A)$438.40 
B)$655.40 
C)$35.40 
D)$24.86

Quizplus · Accepted Answer

The Answer of Provide an appropriate response.
-Find the amount by which the interest compounded annually is larger than the simple interest.
Round to the nearest cent. Use the formula  to find the compound amount.
Principal: $620 Rate: 5% Years: 7 
A)$438.40 
B)$655.40 
C)$35.40 
D)$24.86

Provide an Appropriate Response