Compound interest accumulates over time while e simple interest stays constant?
Amomo saves 100,000frs in the bank at 6% per annum compound interest, what will be his total interest in 2 years?
Babila saves 500,000frs in the bank at 10% per annum compound interest, what will be his total interest in 1 year?
Ekambi saves 300,000frs at the ‘njagi’ at 3% per month compound interest, what will be his total interest in 2 months?
The simple interest on 150,000frs in 2 years at 4% rate per annum is:
12,000.
120,000.
11,200.
1,200.
