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Would you rather have a savings account that offered simple interest or an account that offered compound interest?
account and i just want points so yeh
What if your savings account pays 5 simple interest. You opened your savings account with 200 and did not add any additional deposits. After 2 years your account balance is approximately?
For simple interest you get $10 a year total in the account for 2 years $220.The answer is arrived at by multiplying $200x1.05x1.05 (for compound interest).$200x1.05x1.05= $220.50
The annual interest rate of Paul's savings account is 7.2 and simple interest is calculated monthly What is the periodic interest rate of Paul's account?
Hey maybe don’t show the question if there isn’t an answer!
When Valentina invested 6500 in a savings account with a yearly interest of 4 for 7 years how much simple interest did she earn?
1,820-apex test answer
Is compound interest or simple interest better to have in your savings account?
Compound interest is generally better for savings accounts than simple interest because it allows your money to grow at a faster rate. With compound interest, you earn interest not only on your initial principal but also on the accumulated interest over time, leading to exponential growth. This makes it particularly advantageous over long periods, maximizing your savings potential.
By definition a bank that pays simple interest on a savings account will pay interest?
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Would you rather have a savings account that offered simple interest or an account that offered compound interest?
account and i just want points so yeh
Would you rather have a savings account that offered simple interest, or an account that offered compound interest Why?
account and i just want points so yeh
What if your savings account pays 5 simple interest. You opened your savings account with 200 and did not add any additional deposits. After 2 years your account balance is approximately?
For simple interest you get $10 a year total in the account for 2 years $220.The answer is arrived at by multiplying $200x1.05x1.05 (for compound interest).$200x1.05x1.05= $220.50
The annual interest rate of Belinda's savings account is 8.6 and simple interest is calculated quarterly What is the periodic interest rate of Belinda's account?
2.15% Apex
The annual interest rate of Paul's savings account is 7.2 and simple interest is calculated monthly What is the periodic interest rate of Paul's account?
Hey maybe don’t show the question if there isn’t an answer!
Jennifer invested 3300 in a savings account with a yearly interest rate of 6 for 9 years How much simple interest did she earn?
$2275.28
Pam invested 4200 in a savings account with a yearly interest rate of 4 for 7 years How much simple interest did she earn?
$1326.91
The annual interest rate of Paul's savings account is 7.2 and simple interest is calculated monthly What is the periodic interest rate of Paul's account A1.8 B0.6 C0.4 D0.9?
7.2/12 = 0.6
Eric earns 6.5 percent simple interest annually on his savings account he has a beginning balance of 459.32 How much interest does he receive?
29.86
When Valentina invested 6500 in a savings account with a yearly interest of 4 for 7 years how much simple interest did she earn?
1,820-apex test answer
Is compound interest or simple interest better to have in your savings account?
Compound interest is generally better for savings accounts than simple interest because it allows your money to grow at a faster rate. With compound interest, you earn interest not only on your initial principal but also on the accumulated interest over time, leading to exponential growth. This makes it particularly advantageous over long periods, maximizing your savings potential.
