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
