1. $2060 is compounded annually at a rate of 15% for 10 years. 2. $1450 is compounded...

Question:

1. $2060 is compounded annually at a rate of 15% for 10 years.
2. $1450 is compounded quarterly at a rate of 10% for 15 years.
3. $3500 is compounded daily at a rate of 8% for 10 years.
Find the total amount in each account
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...