Chapter_4_calculations - 1 2,000.00 1.15 2,300.00 300.00...

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Investment 2000 1 1 r 0.15 1+r 1.15 COMPOUND INTEREST CALCULATION Period interest 1 2,000.00 1.15 2,300.00 300.00 300.00 2 2,300.00 1.15 2,645.00 345.00 645.00 3 2,645.00 1.15 3,041.75 396.75 1,041.75 4 3,041.75 1.15 3,498.01 456.26 1,498.01 5 3,498.01 1.15 4,022.71 524.70 2,022.71 6 4,022.71 1.15 4,626.12 603.41 2,626.12 7 4,626.12 1.15 5,320.04 693.92 3,320.04 8 5,320.04 1.15 6,118.05 798.01 4,118.05 9 6,118.05 1.15 7,035.75 917.71 5,035.75 Total received after 9 yrs 7,035.75 compound interest
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SIMPLE INTEREST CALCULATION Period interest difference
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Unformatted text preview: 1 2,000.00 1.15 2,300.00 300.00 300.00 - 2 2,000.00 1.15 2,300.00 300.00 600.00 45.00 3 2,000.00 1.15 2,300.00 300.00 900.00 141.75 4 2,000.00 1.15 2,300.00 300.00 1,200.00 298.01 5 2,000.00 1.15 2,300.00 300.00 1,500.00 522.71 6 2,000.00 1.15 2,300.00 300.00 1,800.00 826.12 7 2,000.00 1.15 2,300.00 300.00 2,100.00 1,220.04 8 2,000.00 1.15 2,300.00 300.00 2,400.00 1,718.05 9 2,000.00 1.15 2,300.00 300.00 2,700.00 2,335.75 Total received after 9 yrs 4,700.00 2,335.75 accumulated interest...
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