【thisisenglishmath!1.supposeyouinvest$1000forfiveyearsat6%simpleinterest.Howdoesthesimpleinterestcomparetothecompoundinterest?2.findtheamountofmoneyinasavingsaccountif$1000isinvestedforfiveyearsat6%interestcomp】
thisisenglishmath!
1.supposeyouinvest$1000forfiveyearsat6%simpleinterest.Howdoesthesimpleinterestcomparetothecompoundinterest?
2.findtheamountofmoneyinasavingsaccountif$1000isinvestedforfiveyearsat6%interestcompoundedquarterly.
3.supposeyouleave$100ineachofthreebankaccountspaying5%interestperyear.oneaccountpayssimpleinterest,onepaysinterestcompoundedsemiannually,andonepaysinterestcompoundedquarterly.findtheamountofmoneyineachaccountafterthreeyears