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cyrusthegreat
- Junior | Next Rank: 30 Posts
- Posts: 11
- Joined: Sat Jan 30, 2010 8:31 pm
If $10000 is invested at x percent simple annual interest for n years, which of the following represents the total amount of the interest earned by this investment in n years?
A. 10000 (x^n)
B. 10000 (x/100)^n
c. 10000n(x/100)
d. 10000(1 + x/100)^n
e. 10000n( 1 + x/100)
The answer is c but I checked it with n=3 and it equals $3000 but in reality, the interest earned would be $3310.
How can this be?
Thanks in advance
A. 10000 (x^n)
B. 10000 (x/100)^n
c. 10000n(x/100)
d. 10000(1 + x/100)^n
e. 10000n( 1 + x/100)
The answer is c but I checked it with n=3 and it equals $3000 but in reality, the interest earned would be $3310.
How can this be?
Thanks in advance
