ravis invested $9,250 in an account that pays 6 percent simple interest. How much morecould he have earned over 7 years if the interest had compounded weekly?
Question
Solution 1
To answer this question, we first need to calculate the amount of money Ravis would have earned with simple interest, and then compare it to the amount he would have earned with weekly compounded interest.
- Calculate Simple Interest: The formula for simple interest is I = PRT, where P is the prin Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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