The compound interest earned over 5 years on a certain sum of money is $1000 at an interest rate of 20% per annum. How much interest would have been earned if simple interest had been charged instead of compound interest?

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compound interest = cложные проценты

P(1 + 0.2)^5 - P = 1000
1.2^ 5 = 2.48832
1.48832 * P = 1000
P = 1000 / 1.48832 = 671.8985

671.8985

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investopedia.com/terms/c/compoundinterest.asp

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getobjects.com/Components/Finance/TVM/iy.html#simple

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