T.i.P.S.

  • Lightbulb Students will calculate simple interest and compound interest using various rates and lengths of time as well as compare the two types of interest on earnings.

Example

  • Todd deposited $1,600 in an account that earns 7% simple interest every year. His brother Adam deposited $1,550 in an account that earns 7.5% interest compounded annually. The deposits were made on the same day, and no additional money will be deposited or withdrawn from the accounts. Who will have the most money in their account and how much more at the end of 4 years?
     

Resources

TEKS

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