Illustrative Mathematics
Illustrative Mathematics: F Bf Compounding With a 5% Interest Rate
In the problem presented here, money is invested in an account and its owner understands that interest compounded semi-annually gives a better return than interest compounded annually. He wonders how much interest can be earned by...
University of Toronto (Canada)
Answers and Explanations Simple and Compound Interest
If a bank account produces "simple interest", the interest is paid directly and does not become part of the account's interest-bearing balance. That balance remains constant, and it's easy to figure out how much money you earn. This site...