document.write( "Question 980999: The difference between simple interest and compound interest on a certain sum of money invested for 3 years at 6% p.a is $ 110.16. The sum is : \n" ); document.write( "
Algebra.Com's Answer #602174 by ankor@dixie-net.com(22740)\"\" \"About 
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The difference between simple interest and compound interest on a certain sum of money invested for 3 years at 6% p.a is $ 110.16. The sum is
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\n" ); document.write( "let p = the original amt of money
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\n" ); document.write( "Compounded amt - simple int amt = 110.16
\n" ); document.write( "p(1.06)^3 - (p+p*.06*3) = 110.16
\n" ); document.write( "1.191p - 1.18p = 110.16
\n" ); document.write( ".011p = 110.16
\n" ); document.write( "p = 110.16/.011
\n" ); document.write( "p = $10,014.55 \n" ); document.write( "
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