Question
2. (a) You have deposited $1,000 in your bank account that pays an interest rate 5% per year. Write an equation that shows how much
2. (a) You have deposited $1,000 in your bank account that pays an interest rate 5% per year. Write an equation that shows how much money you will have at the end of 4th year if your deposit is under a fixed certificate.
(b) Why earn interest on an interest called compound interest? (c) Briefly explain the equation, FV1 = PV + INT
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Forecasting Principles And Practice
Authors: Rob J Hyndman, George Athanasopoulos
1st Edition
0987507109, 978-0987507105
