Interest calculated solely on the principal is known as _ interest, whereas interest calculated on the principal and previously earned interest is known as _ interest. (11-1)

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Answer 1

Textbook Question

Chapter 11, Problem 1CR

Interest calculated solely on the principal is known as _______ interest, whereas interest calculated on the principal and previously earned interest is known as _______ interest. (11-1)

Expert Solution & Answer

To determine

To fill: The blank spaces in the statement, “Interest calculated solely on the principal is known as ____ interest, whereas interest calculated on the principal and previously earned interest is known as ____ interest.”

Answer to Problem 1CR

Solution:

Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.

Explanation of Solution

When a certain amount for investment is dependent on Simple Interest, this implies that, the formula to calculate the amount of interest I=PRT,

On the other hand, the amount of interest paid on principal and previously earned interest is Compound interest. And, it is calculated by the formula;

Compound interest=Principal+Simple interest

Therefore, the complete statement is “Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.”

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Students have asked these similar questions

By considering appropriate series expansions, e². e²²/2. e²³/3. .... = = 1 + x + x² + · ... when |x| < 1. By expanding each individual exponential term on the left-hand side the coefficient of x- 19 has the form and multiplying out, 1/19!1/19+r/s, where 19 does not divide s. Deduce that 18! 1 (mod 19).

Proof: LN⎯⎯⎯⎯⎯LN¯ divides quadrilateral KLMN into two triangles. The sum of the angle measures in each triangle is ˚, so the sum of the angle measures for both triangles is ˚. So, m∠K+m∠L+m∠M+m∠N=m∠K+m∠L+m∠M+m∠N=˚. Because ∠K≅∠M∠K≅∠M and ∠N≅∠L, m∠K=m∠M∠N≅∠L, m∠K=m∠M and m∠N=m∠Lm∠N=m∠L by the definition of congruence. By the Substitution Property of Equality, m∠K+m∠L+m∠K+m∠L=m∠K+m∠L+m∠K+m∠L=°,°, so (m∠K)+ m∠K+ (m∠L)= m∠L= ˚. Dividing each side by gives m∠K+m∠L=m∠K+m∠L= °.°. The consecutive angles are supplementary, so KN⎯⎯⎯⎯⎯⎯∥LM⎯⎯⎯⎯⎯⎯KN¯∥LM¯ by the Converse of the Consecutive Interior Angles Theorem. Likewise, (m∠K)+m∠K+ (m∠N)=m∠N= ˚, or m∠K+m∠N=m∠K+m∠N= ˚. So these consecutive angles are supplementary and KL⎯⎯⎯⎯⎯∥NM⎯⎯⎯⎯⎯⎯KL¯∥NM¯ by the Converse of the Consecutive Interior Angles Theorem. Opposite sides are parallel, so quadrilateral KLMN is a parallelogram.

By considering appropriate series expansions, ex · ex²/2 . ¸²³/³ . . .. = = 1 + x + x² +…… when |x| < 1. By expanding each individual exponential term on the left-hand side and multiplying out, show that the coefficient of x 19 has the form 1/19!+1/19+r/s, where 19 does not divide s.

Answer 2

Textbook Question

Chapter 11, Problem 1CR

Interest calculated solely on the principal is known as _______ interest, whereas interest calculated on the principal and previously earned interest is known as _______ interest. (11-1)

Expert Solution & Answer

To determine

To fill: The blank spaces in the statement, “Interest calculated solely on the principal is known as ____ interest, whereas interest calculated on the principal and previously earned interest is known as ____ interest.”

Answer to Problem 1CR

Solution:

Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.

Explanation of Solution

When a certain amount for investment is dependent on Simple Interest, this implies that, the formula to calculate the amount of interest I=PRT,

On the other hand, the amount of interest paid on principal and previously earned interest is Compound interest. And, it is calculated by the formula;

Compound interest=Principal+Simple interest

Therefore, the complete statement is “Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.”

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Answer 3

Textbook Question

Chapter 11, Problem 1CR

Interest calculated solely on the principal is known as _______ interest, whereas interest calculated on the principal and previously earned interest is known as _______ interest. (11-1)

Expert Solution & Answer

To determine

To fill: The blank spaces in the statement, “Interest calculated solely on the principal is known as ____ interest, whereas interest calculated on the principal and previously earned interest is known as ____ interest.”

Answer to Problem 1CR

Solution:

Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.

Explanation of Solution

When a certain amount for investment is dependent on Simple Interest, this implies that, the formula to calculate the amount of interest I=PRT,

On the other hand, the amount of interest paid on principal and previously earned interest is Compound interest. And, it is calculated by the formula;

Compound interest=Principal+Simple interest

Therefore, the complete statement is “Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.”

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 11, Problem 1CR

Interest calculated solely on the principal is known as _______ interest, whereas interest calculated on the principal and previously earned interest is known as _______ interest. (11-1)

Expert Solution & Answer

To determine

To fill: The blank spaces in the statement, “Interest calculated solely on the principal is known as ____ interest, whereas interest calculated on the principal and previously earned interest is known as ____ interest.”

Answer to Problem 1CR

Solution:

Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.

Explanation of Solution

When a certain amount for investment is dependent on Simple Interest, this implies that, the formula to calculate the amount of interest I=PRT,

On the other hand, the amount of interest paid on principal and previously earned interest is Compound interest. And, it is calculated by the formula;

Compound interest=Principal+Simple interest

Therefore, the complete statement is “Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.”

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

To fill: The blank spaces in the statement, “Interest calculated solely on the principal is known as ____ interest, whereas interest calculated on the principal and previously earned interest is known as ____ interest.”

Answer to Problem 1CR

Solution:

Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.

Explanation of Solution

When a certain amount for investment is dependent on Simple Interest, this implies that, the formula to calculate the amount of interest I=PRT,

On the other hand, the amount of interest paid on principal and previously earned interest is Compound interest. And, it is calculated by the formula;

Compound interest=Principal+Simple interest

Therefore, the complete statement is “Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.”

Answer 8

Expert Solution & Answer

To determine

To fill: The blank spaces in the statement, “Interest calculated solely on the principal is known as ____ interest, whereas interest calculated on the principal and previously earned interest is known as ____ interest.”

Answer to Problem 1CR

Solution:

Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.

Explanation of Solution

When a certain amount for investment is dependent on Simple Interest, this implies that, the formula to calculate the amount of interest I=PRT,

On the other hand, the amount of interest paid on principal and previously earned interest is Compound interest. And, it is calculated by the formula;

Compound interest=Principal+Simple interest

Therefore, the complete statement is “Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.”

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

To fill: The blank spaces in the statement, “Interest calculated solely on the principal is known as ____ interest, whereas interest calculated on the principal and previously earned interest is known as ____ interest.”

Answer 12

Answer to Problem 1CR

Solution:

Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.

Answer 13

Explanation of Solution

When a certain amount for investment is dependent on Simple Interest, this implies that, the formula to calculate the amount of interest I=PRT,

On the other hand, the amount of interest paid on principal and previously earned interest is Compound interest. And, it is calculated by the formula;

Compound interest=Principal+Simple interest

Therefore, the complete statement is “Interest calculated solely on the principal is known as simple interest, whereas interest calculated on the principal and previously earned interest is known as compound interest.”

Answer 14

Ch. 11.I - Gail Parker invested $10,000 at 6% interest...Ch. 11.I - Jenny Chao invested $20,000 at 6% interest...Ch. 11.I - Prob. 3TIE Ch. 11.I - Jill Quinn invested $7,000 in a certificate of...Ch. 11.I - Prob. 5TIE Ch. 11.I - Prob. 1RE Ch. 11.I - For the following investments, find the total...Ch. 11.I - For the following investments, find the total...Ch. 11.I - Prob. 4RE Ch. 11.I - Prob. 5RE

Interest calculated solely on the principal is known as _ interest, whereas interest calculated on the principal and previously earned interest is known as _ interest. (11-1)

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