Question: For the given principal, interest rate, and time period, determine the amount of interest that wo…
Show transcribed image text For the given principal, interest rate, and time period, determine the amount of interest that would be earned in an account paying simple interes t. Also determine the amount of interest that would be earned in an account paying compound interest with interest compounded annually. Round to the nearest cent. 14) Principal: $800 Rate: 796 Years: 8 14)
For the given principal, interest rate, and time period, determine the amount of interest that would be earned in an account paying simple interes t. Also determine the amount of interest that would be earned in an account paying compound interest with interest compounded annually. Round to the nearest cent. 14) Principal: $800 Rate: 796 Years: 8 14)
