Consider the simple interest, find how many years it will take to get total $320 if the principal is $100 and an interest rate is 11%. Note: Recall/use the Interest (simple) formula & the Mature Value (MV)/ Ending Balance (EB) formula. Extra: The same data; apply compound interest. Compare.

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Consider the simple interest, find how many years it will take to get total $320
if the principal is $100 and an interest rate is 11%.
Note: Recall/use the Interest (simple) formula & the Mature Value (MV) /
Ending Balance (EB) formula.
Extra: The same data; apply compound interest. Compare.
Transcribed Image Text:Consider the simple interest, find how many years it will take to get total $320 if the principal is $100 and an interest rate is 11%. Note: Recall/use the Interest (simple) formula & the Mature Value (MV) / Ending Balance (EB) formula. Extra: The same data; apply compound interest. Compare.
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