MBF3C Gr. 11 Math: Financial ApplicationAnswer ASAP :)

Question 3 (6 points) Each statement below is FALSE. Fix each statement by changing only ONE word. Clearly state which word you are changing and what it should be. (6 marks) a) Simple interest is an example of exponential growth. b) The smaller the interest rate, the smaller the principal amount you will need to invest to reach your goal. c) The greater the compounding frequency, the smaller the amount of interest you will earn. d) When calculating simple interest, time must be in days. e) Simple interest investments allow your money to grow faster than compound interest investments over time. f) Compound interest earns money based only on the principal amount