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Solve using GRESA and simple, compound interest formula 

I'll help you solve these problems using the GRESA method (Given, Required, Equation, Solution, Answer) and the simple and compound interest formulas.

Let's analyze each question in the image:

### Problem 1
**Given:**
- Principal ($P$): $2,000
- Rate ($r$): 12% per annum (simple interest)
- Time ($t$): 3 years

**Required:**
- The amount of interest earned after 3 years

**Equation:**
The formula for simple interest is:
\[
I = P \times r \times t
\]

**Solution:**
\[
I = 2000 \times 0.12 \times 3 = 720
\]

**Answer:**
The interest earned after 3 years is $720.

---

### Problem 2
**Given:**
- Principal ($P$): $10,000
- Rate ($r$): 7% per annum
- Time ($t$): 2 years
- Compounding Frequency: Quarterly (4 times a year)

**Required:**
- The amount in the account after 2 years with compound interest

**Equation:**
The formula for compound interest is:
\[
A = P \left(1 + \frac{r}{n}\right)^{nt}
\]
where $n$ is the number of times interest is compounded per year.

**Solution:**
\[
A = 10000 \left(1 + \frac{0.07}{4}\right)^{4 \times 2} = 10000 \left(1 + 0.0175\right)^8
\]
\[
A = 10000 \left(1.0175\right)^8 \approx 10000 \times 1.1489 = 11489
\]

**Answer:**
The amount in the account after 2 years is approximately $11,489.

---

### Problem 3
**Given:**
- Initial amount ($P$): 15% of $20,000 = $3,000
- Annual rate of decrease ($r$): 3%
- Time ($t$): 8 years

**Required:**
- The value after 8 years with a 3% annual decrease

**Equation:**
The formula for depreciation with annual decrease is similar to compound interest:
\[
A = P \left(1 - r\right)^t
\]

**Solution

Solve using GRESA and simple, compound interest formula

This page provides detailed solutions to problems involving simple interest, compound interest, and depreciation. Learn how to calculate interest earned over time and the value of assets after depreciation using key mathematical formulas.

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