Between simple and compound interest, which will produce a greater interest at the end of the fifth period?
Ngang borrows 1,000,000frs from the ‘njangi’ at 10% per annum compound interest, how much will he reimburse the ‘njangi’ in 2 years?
Financial institutions will make more money if they use simple interest on the loans they give out?
The simple interest on 150,000frs in 2 years at 4% rate per annum is:
11,200.
120,000.
12,000.
1,200.
Manyi saves 100,000frs in the bank at 6% per 6 months simple interest, what will be her total interest in 2 years?
