maths_questions
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- Feb 28, 2010
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A sum of money is deposited in a bank at an interest rate of 3% p.a.
(a) If simple interest is paid, the amount after 3 years would be $5000.How much is the sum of the money originally?
(b) If the interest is compounded half-yearly, find the amount after 3 years correct to the nearest dollar.
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(a) If simple interest is paid, the amount after 3 years would be $5000.How much is the sum of the money originally?
(b) If the interest is compounded half-yearly, find the amount after 3 years correct to the nearest dollar.
I couldn't understand this question
Please help and explain on how to solve this question