a).Discuss the distinction between compound interest rate and a simple interest rate. b).You have recently invested $1000, which offer a simple interest of 12% for 3 month. i)Calculate the interest you received for three month. ii). Calculate the accumulated value at the end of 3 month Simple interest rate = 12% p.a. Invested for 3 months 1=Pxrxt FV = PV + 1 = PV + PV xrxt = PV x (1+rxt)