Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ian invested $2,750 for 259 days at a simple interest rate of 3.75% p.a. How much more or less interest would he have earned on

Ian invested $2,750 for 259 days at a simple interest rate of 3.75% p.a.

How much more or less interest would he have earned on the investment if his money was growing at a simple interest rate of 4.50% p.a. instead of 3.75% p.a.?

Round to the nearest cent

Please type your answer, it makes it easier to follow :) Thank-you

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Focus On Personal Finance An Active Approach To Help You Develop Successful Financial Skills

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

4th Edition

0078034787, 978-0078034787

More Books

Students also viewed these Finance questions