Question

Suppose that Jethro deposits $2000 into an account which pays simple interest of 4% per annum, which we express as the rate r = 0.04 . Simple interest means Jethro only earns interest on the principle $2000 investment. After one year the total in the account is $ . After 5 years the total in the account is $ . Suppose that his friend Marlene deposits $1000 into an account which pays an interest rate of 3% per annum, which we express as the rate r = 0.03 , but compounded monthly. Note that this 3% per annum translates into the rate 0.25% per month. After 1 month Marlene's account contains $ , and after 12 months (1 year) it would contain $ . After three years it would contain $ . Note: you can leave complicated expressions like 2000 x (1 + 13/35)^35 for MapleTA to evaluate.

          Suppose that Jethro deposits $2000 into an account which pays simple interest of 4% per annum, which we express as the rate r = 0.04 . Simple interest means Jethro only earns interest on the principle $2000 investment. After one year the total in the account is $ . After 5 years the total in the account is $ .

Suppose that his friend Marlene deposits $1000 into an account which pays an interest rate of 3% per annum, which we express as the rate r = 0.03 , but compounded monthly. Note that this 3% per annum translates into the rate 0.25% per month. After 1 month Marlene's account contains $ , and after 12 months (1 year) it would contain $ .

After three years it would contain $ .

Note: you can leave complicated expressions like 2000 x (1 + 13/35)^35 for MapleTA to evaluate.

Suppose that Jethro deposits 2000 into an account which pays simple interest of 4% per annum, which we express as the rate r = 0.04 . Simple interest means Jethro only earns interest on the principle $2000 investment. After one year the total in the account is $ . After 5 years the total in the account is $ .

Suppose that his friend Marlene deposits1000 into an account which pays an interest rate of 3% per annum, which we express as the rate r = 0.03 , but compounded monthly. Note that this 3% per annum translates into the rate 0.25% per month. After 1 month Marlene's account contains $ , and after 12 months (1 year) it would contain $ .

After three years it would contain .

Note: you can leave complicated expressions like 2000 x (1 + 13/35)^35 for MapleTA to evaluate.

Added by Jacob J.

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