MATH 120 Section 3.2 Compound, Continuous Interest and APY ...
MATH 120 Section 3.2 Compound, Continuous Interest and APY . Compound Interest: Earning Interest on Interest. With simple interest, the principal earns interest once a year (compounded once a year). In reality, interested is compounded more than once a year. Problem . 1. You put $100 into a savings account @ 5% interest compounded monthly ... ................
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