A sum of money is deposited in a bank and it earns interest at 5% per annum for 3 years. If the difference between the compound interest,
compounded yearly, and the simple interest earned
on the sum is $36.60, find the sum.​

I= p×5%×8 simple

I+36.60=p ((1+5%)^8-1) compound

as p is same for both

I/(5%×8) = I+36.60/((1+5%)^8 -1)

by solving equation I= 190.12

p=190.12/(5%×8)

p=475.3

37

step-by-step explanation:

-7/8

step-by-step explanation:

instead of subtracting you add the -6/8 and -1/8