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Find the difference between simple and compound interest on $5000 invested for 4 years at 5% per annum, interest payable yearly.
Find the difference between simple and compound interest on $5000 invested for 4 years at 5% per annum, interest payable yearly.
Solution
Previous article: Find the compound interest on $6950 for 3 years, if interest is payable half yearly, the rate for the first two years being 6%, and for the third year 9% p.a.
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Next article: (a) Find the compound interest on $1000 for 4 years at 5% per annum. (b) What will be the simple interest in the above case?
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Accounting for Receivables
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