For an Investment of $100,000 at 9% Interest for 8

question 25

Multiple Choice

For an investment of $100,000 at 9% interest for 8 years, find (a) the simple interest, and (b) the
Compound interest if interest is calculated once per year.

• A)a. $72,000; b. $104,892.12
• B)a. $99,256.26; b. $104,892.12
• C)a. $72,000; b. $99,256.26
• D)a. $99,256.26; b. $72,000

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Money sent by migrants to their home country, often to family members, contributing to the receiving country's economy.

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