nerfwarrior
Answered

worth 5 points  pls answer both questions
what is the difference between simple intrest and annual intrest ?

Mrs. Sing invests $12,876 for her business at an annual interest rate of 7 percent for 3 years. Which number will Mrs. Sing substitute for r in the simple interest formula?

l=prt < formula


0.007

0.07

0.7

7

Verified Answer :

mdarrow01

Interest is basically a percentage that can be simple or compounded. Simple interest is the amount of a loan. Annual is a form of compounded interest. Compounded interest can be quarterly, monthly, weekly, yearly, etc.

I=Prt
We have to solve for r
r=r/100
7%/100
0.07 per year
Hope This Helps!

Zfreitas16rocklinusd

Answer:

0.07

Step-by-step explanation:

I just took the quiz.

Hope this helps! ^^

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