Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN: 9780134463216
Author: Robert F. Blitzer
Publisher: PEARSON
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1. Use a table to contrast simple and compound interest. Suppose we are modeling in each
case a principal of $1000, one model using 4% simple interest and the other model using
4% compound interest.
4% Simple Interest
Year Starting
Balance
4% Interest Compounded Annually
Starting
Balance
Interest
Ending
Balance
Year
Interest
Ending
Balance
1
3
1.
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Transcribed Image Text:Cises 1. Use a table to contrast simple and compound interest. Suppose we are modeling in each case a principal of $1000, one model using 4% simple interest and the other model using 4% compound interest. 4% Simple Interest Year Starting Balance 4% Interest Compounded Annually Starting Balance Interest Ending Balance Year Interest Ending Balance 1 3 1.
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