1. Section 1

1.19. Explore 4

Mathematics 20-3 Module 2

Section 1: Simple and Compound Interest

 

Self-Check 2
  1. Based on what you have investigated in this lesson, determine which investment will earn the most interest.

    1. $2500 compounded monthly at 3% per annum, or $2500 compounded yearly at 3% per annum Answer

    2. $1500 compounded semi-annually at 4% per annum, or $1500 compounded quarterly at 4% per annum Answer

  2.  
    1. Do question 5 from “Build Your Skills” on page 273 of MathWorks 11. Answer

    2. What was the interest rate per compounding period? Answer

  3. Do question 6 from “Build Your Skills” on page 273 of MathWorks 11. Answer

  4. Do question 7 from “Build Your Skills” on page 273 of MathWorks 11. Answer

glossary

It is now time to add new math terms to Mathematics 20-3: Glossary Terms.

 

In this lesson the new terms you will add are

  • compound interest
  • compound period
  • annually
  • semiannually
  • quarterly

formula sheet

At this time, you may want to add the compound interest formula to your Formula Sheet.