1. Compound Interest $1000 is deposited into a savings account paying 4% interest compounded quarterly. 2. Compound...

Question:

1. $1000 is deposited into a savings account paying 4% interest compounded quarterly.
2. $1250 is deposited into a savings account paying 3% interest compounded monthly.
3. Simple Interest $2500 is deposited into a savings account paying 2.5% simple interest.
4. Simple Interest $500 is deposited into a savings account paying 2.75% simple interest?
Give a difference equation for yn, the balance after n interest periods.
Compound Interest
Compound interest (or compounding interest) is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. Thought to have originated in 17th century Italy, compound...