Simple and Compound Interest
 

Simple and Compound Interest problem 25


John decided to save. He deposited in his bank account. The bank offers an annual compound interest rate of .


  • How much money will John have after 2 years?


  • How much money will he have in total after seven years, if after 2 years he added another ?


  • What would be the interest rate for the initial deposit to double in 10 years?


 

material editor: Anot Alawiye