Simple & Compound Interest
Based on the formulas, please develop the following exercises:
1. What is the simple interest of a capital of $23.000 invested in 8 years at 5%
annual rate?
2. My sister told me about taking out a loan considering the following information:
Initial capital: $35.000USD Time: 89 days. Interest rate: 1.2% monthly. How much
money will I pay at the end of this loan?
3. After a time, a bank deposited in my bank account an amount of $2'850.000
COP in the concept of interest added into a specific capital, that I don't
remember, with an annual rate of simple interest of 2% which is the initial
capital?