Pre-Test Quiz - Simple & Compound Interest
You must know the formula for the actual test. You are required to enter simple and compound interest answers using the money format. For example - $3,456.78 -- $6,000.00 -- etc.
Use the following formulas to find the ending balance or total value
**** Simple interest = (Principal * interest) * years + Principal
**** Compound interest = P (1 + r/n)nt
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