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Back to Simple and Compound Interest

Exercise 9

Avg difficulty 2.5

You deposit $300 in an account earning 5% APR compounded annually. How much will you have in the account in 10 years?

  1. How much will you have in the account in 10 years?

  2. How much interest will you earn?

  3. What percent of the balance is interest?

Lee et al., Math in Society, §2.2 Simple and Compound Interest, Exercise 9

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Adapted from Math in Society © 2018–2024 Portland Community College Math Instructors. Licensed under CC BY-SA 4.0. Source: Math in Society. Imported at revision 68ee43c.