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What is the difference between the compound interest and simple interest on a pr

Practice Questions

Q1
What is the difference between the compound interest and simple interest on a principal of $1000 at 8% per annum after 2 years?
  1. $16
  2. $32
  3. $24
  4. $20

Questions & Step-by-Step Solutions

What is the difference between the compound interest and simple interest on a principal of $1000 at 8% per annum after 2 years?
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