anonymous
  • anonymous
WHAT IS THE SUM FOR WHICH 2 YRS SIMPLE INTEREST AND COMPOUND INTEREST DIFFERENCE IS 880 , RATE 4 PER CENT ANN FOR BOTH
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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Owlfred
  • Owlfred
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anonymous
  • anonymous
compounded how frequently?
anonymous
  • anonymous
i make it 550,000

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anonymous
  • anonymous
let the sum be x. x(1.04)^2 - x*8 / 100=880 1.0816x - 0.08x = 880 1.0016x = 880 x = $878.60
anonymous
  • anonymous
im not sure though
anonymous
  • anonymous
s1 = p +p x .04 x 2 = 1.08p s2 = p(1 + r)^2 = 1.04^2 = 1.0816 s2-s1 = 0.0016 = 880 p = 880 / .0016 = 550000
anonymous
  • anonymous
yeah i added the 1 by mistake...

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