Mathematics, 24.03.2021 16:40 zaratayyibah

What would Php 1000 become in a saving account at 2% per year for 5 years when the interest is not compounded (simple interest)? What would the same
amount become after 5 years with the same rate but compounded annually? What
is the difference between the results?

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More questions: Mathematics Another questions

What would Php 1000 become in a saving account at 2% per year for 5 years when the interest is not compounded (simple interest)? What would the same amount become after 5 years with the same rate but compounded annually? What is the difference between the results?

Answers

Another question on Mathematics

What would Php 1000 become in a saving account at 2% per year for 5 years when the interest is not compounded (simple interest)? What would the same
amount become after 5 years with the same rate but compounded annually? What
is the difference between the results?