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Answered

. There is a cooperative group offers 8% annual simple interest rate and a bank offers 8% compounded annually. Where will you loan for the money? Why?​

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Galendezjason38go

Answer:

Simple One-time Interest

I = P0r

A = P0 + I = P0 + P0r = P0(1 + r)

I is the interest

A is the end amount: principal plus interest

P0 is the principal (starting amount)

r is the interest rate (in decimal form. Example: 5% = 0.05)

Example 1

A friend asks to borrow $300 and agrees to repay it in 30 days with 3% interest. How much interest will

Step-by-step explanation:

thanks point po ty

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