Compound Interest
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 com...
Peter gets a credit card that charges 17.5%
interest compounded monthly. Peter buys a
new laptop for $500 with his credit ...
March 18 Compound Interest
March 18 Compound Interest
March 18 Compound Interest
March 18 Compound Interest
March 18 Compound Interest
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March 18 Compound Interest

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March 18 Compound Interest

  1. 1. Compound Interest
  2. 2. If you invest $1000 at an interest rate of 8% compounded semi-annually for 4 years how much money would you have?
  3. 3. 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?
  4. 4. 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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