Name Mid referson Date 1. You deposit $ 1000 in a savings account that earns 6% interest per year . Complete the table below Simple Interest Compound Interest Principal Annual Interest Balance at End of the + Principal and Annual Year Interest Balance at End of Interest Year $ 1 000 $ 60 $ 1 060 $ 1 000 $ 60 (.06 of $ 1 060 (6% of 1000) 1000) 1 000 60 ( 2 ) = 120 1 120 1 060 63.60 1 123.60 m LO 2. How does compound interest differ from simple interest