Problem Statement: Engineering Economics
Simple & Compounded Interest Problem SolvingWhat is the difference of the amount 3 years from now for a 10% simple interest and 10% compound interest per year? (P5000 accumulated)
A. P155
B. same
C. P100
D. P50
Problem Answer:
The difference of the amount 3 years from now for a 10% simple interest and 10% compound interest per year is equal to P155.
View Solution:
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