You deposit $950 into an account that earns 4 % interest compounded annually. Find the balance in the account after five years. In your last calculation, round to the nearest cent. Simple and Compound Interest COURSE 3 LESSON Year Start of Year InterestEnd of Year 1$ = = $ = 1, $1, , = 1, , $1, , = 1, , $1, , = 1, , At the end of 5 years, the balance in the account is $1,

You invest $225 for four years at an interest rate of 6 % compounded annually. What is your final balance? Simple and Compound Interest COURSE 3 LESSON B = p(1 + r) n Use the compound interest formula. B = 255( ) 4 Substitute: p = 225, r = 0.065, n = Use a calculator. Round to the nearest cent. $ After 4 years, your balance will be $

Simple and Compound Interest 1.You deposit $80 into an account that earns 6% simple interest. Find the amount of interest earned in 3 years. Then find the final balance after 3 years. 2.You deposit $80 into an account that earns 6% compounded annually. How much will be in the account in 3 years? COURSE 3 LESSON 6-8 $14.40; $94.40 $