The rate at which 2,000,000 FCFA is invested for 2 years to yield an interest of 200,000 FCFA is:
5%.
4%.
10%.
2%.
Amomo saves 100,000frs in the bank at 6% per annum compound interest, what will be his total interest in 2 years?
Fote borrows 1,000,000frs in the bank at 12% per annum, how much will he pay the bank in 2 years?
Financial institutions will make more money if they use simple interest on the loans they give out?
Compound interest accumulates over time while e simple interest stays constant?
