Name
DO"*(/\C/\X\N
ve
|
Date
\
0-2A-25
Chapter
4B
Classwork
Calculate
the
amount
you
will
have
in
each
account
using
the
Simple
Interest
formula
for
the
following
Problems:
BE
SURE
TO
WRITE
THE
FORMULA
FOR
EACH
PROBLEM
1.
You
deposit
$1200
in
an
account
with
an
annual
interest
rate
of
3%
for
5
years.
2.
You
deposit
$4000
into
an
account
with
an
annual
interest
rate
of
2.5%
for
10
years.
Calculate
the
amount
you
will
have
in
each
account
using
the
Annual
Compound
Interest
formula
for
the
following
Problems.
BE
SURE
TO
WRITE
THE
FORMULA
FOR
EACH
PROBLEM
'
3.
$10,000
is
invested
at
APR
of
4%,
which
is
compounded
annually,
for
10
years.
:
4.
$8,000
is
invested
into
an
account
with
an
APR
of
3.15
%,
which
is
compounded
annually,
for
12
years.
5.
You
have
decided
to
deposit
$4000
for
the
next
3
years
into
an
account
that
earn
compound
interest
annually
at
a
rate
of
1.5%.
Round
to
the
nearest
whole
number.
Complete
the
table
below
showing
what
happens
year
by
year.
Year
Beginning
Balance
Interest
Earned
it
$4000
$60
Ending
Balance
2
54060
-
:
a.
SHOW
RELEVANT
WORK
HERE:
