Tuesday, October 18, 2011

Family Compound Interest Activity

If my family deposits 5000 € in a bank as a termed deposits for 5 years with the compound interest of 3.5%, in the end of this period the amount of money will arize up to 5 938€.This mean that we will earn 938€. This amount is about 1/6 of our depost.

1 comment:

  1. Even at a low return of 3.5% you can make a lot of money with compound interest. We will use this calculation on the unit test as well :)

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