If you invest $1000 at an interest rate
of 8% compounded semi-annually for 4
years how much money would you have?
Jim's Bank is offering 6% interest
compounded monthly on all deposits over
$2000. Steve's bank is offering 5%
interest compounded weekly on the same
size deposits. If you plan to leave your
money in the bank for 2 years, which
bank should you choose?
Peter gets a credit card that charges 17.5%
interest compounded monthly. Peter buys a
new laptop for $500 with his credit card.
He can't afford to pay his bill for 6 months.
How much did the laptop really cost him?
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