Compound Interest: How much can you earn in 3 years at 9 per cent?
Автор: MasterWuMathematics
Загружено: 2023-10-25
Просмотров: 131
In this video, we calculate the interest earned over a 3 year period after depositing $5000 into a savings account, earning interest at 9% per annum.
The bank pays us interest month, and there are no taxes on the interested earned and we do not make any withdrawals in that time. How much will we have earned in 3 years?
#financialmathematics #compoundinterest #exponentialgrowthproblem
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