$2,000 at 12% for 3 years

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asked Nov 21, 2023 182k views

1 Answer

Jazzepi · Answer 1 · 2023-11-26T21:08:25+0000

Simple interest: 2,720
Compound interest: 2,809.86

Step-by-step explanation:
In compound interest, you earn interest on your interest.
Simple interest is just 2,000 + 12%(2000•3)
Hope this helps!

$2,000 at 12% for 3 years

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$2,000 at 12% for 3 years