PROBLEM 1 - Simple Interest
How much interest will you earn in 6 months on $1,000 if the bank pays 3% simple interest annually?
PROBLEM 2 - Compound Interest
Aaron is earning 5% interest on his savings account. He starts with $5,000.00.How much money will he have in 6 months?
PROBLEM 3 - Compound interest rate with additional contributions
John is earning 6% compound interest on his savings account. He starts out with $2,000 and deposits $200 more into the account every month. Calculate how much money he will have in 6 months.
PROBLEM 4 - Compound Interest for longer term
Hank leaves his money for 1 year to see how much more it will grow. He deposits $10,000 at 5% for 12 months. How much interest does he make?
PROBLEM 4 - Compound Interest for longer term
Hank leaves his money for 1 year to see how much more it will grow.
He deposits $10,000 at 5% for 12 months. How much interest does he make?
PROBLEM 1 - Simple Interest
How much interest will you earn in 6 months on $1,000 if the bank pays 3% simple interest annually?
PROBLEM 2 - Compound Interest
Aaron is earning 5% interest on his savings account. He starts with $5,000.00.How much money will he have in 6 months?
PROBLEM 3 - Compound interest rate with additional contributions
John is earning 6% compound interest on his savings account. He starts out with $2,000 and deposits $200 more into the account every month. Calculate how much money he will have in 6 months.
PROBLEM 4 - Compound Interest for longer term
Hank leaves his money for 1 year to see how much more it will grow. He deposits $10,000 at 5% for 12 months. How much interest does he make?
PROBLEM 4 - Compound Interest for longer term
Hank leaves his money for 1 year to see how much more it will grow.
He deposits $10,000 at 5% for 12 months. How much interest does he make?
