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What compound interest is paid on a $1,100 deposit earning 1.25% annual interest for 3 years? $ 38.50 (The only information I have for these
- What compound interest is paid on a $1,100 deposit earning 1.25% annual interest for 3 years? $ 38.50
(The only information I have for these questions are from the table (Future value of $1 at compound interest)
1.00% @3 years = 1.0300 and 1.50% @ 3 years = 1.0457. There is not one for 1.25%
- A deposit of $720 earns 1% annual interest for 7 years. What compound interest will the deposit earn?
Info: 1.00% @ 7 years = 1.0721
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