Worth 5 points pls answer both questions

1 answer:

5 0

Interest is basically a percentage that can be simple or compounded. Simple interest is the amount of a loan. Annual is a form of compounded interest. Compounded interest can be quarterly, monthly, weekly, yearly, etc.

I=Prt
We have to solve for r
r=r/100
7%/100
0.07 per year
Hope This Helps!

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