Mathematics 20-3
12. Losef and Sasha each invest in a $500.00 Canada Savings Bond with an
annual interest rate of 7%. The interest on Joe's bond is paid at the end of
each year (simple interest). The interest on Sasha's bond is compounded
annually. Both bonds mature in 3 years.
a. Calculate the total amount of interest earned on each bond.
P(IH)th
500.00 +
0.7
m
eille
1.16 cm
A14A
4 Pip