Question: Simple and Compounding Interest If you deposit $ 1 2 5 in an account that pays 1 0 % interest annually and you don't touch

Simple and Compounding Interest
If you deposit $125 in an account that pays 10% interest annually and you don't touch it for 3 years, what is the interest earned on your initial deposit after 3 years?
Use the Simple Method of compound interest to solve.
2. Now use the formula for compounding interest to determine the increase in value of your $125 deposit after 3 years.
\table[[Year 1],[Amount in the Bank,$125],[Interest Rate,10%],[Total,],[Year 2],[Amount,],[Interest Rate,10%],[Total,],[Year 3],[Amount,],[Interest Rate,10%],[Total,]]
3.What do you notice about the totals? Are they the same?
Simple and Compounding Interest If you deposit $

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