This Exercise is all about the different results from the three different Interest Rate types. Unlike the Practice Problems, you will get zero credit for using the wrong rate. If you're still not sure, go back and re-read the second half of the lesson, and re-do the Practice Problems until you 100% them.

In all three problems:

D = $961.02

r = 0.13 = 13% and it's always evaluated annually

t = 9 and it's in years.

Round all answers to the nearest cent.

First, find the value of that D, that r, and that t in a Simple Interest problem.

answer:

Using the same D, the same r, and the same t, what is the result by Compounded Interest? (the rate is still in annual terms)

answer: