1 / 6

# Homework Quiz - PowerPoint PPT Presentation

Homework Quiz. Rule of 72. Interest Rate . Years for money to double. 9 years 6 12 36 2400 years. 8% 12% 6% 2% .03%. I = P x R x T.

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.

## PowerPoint Slideshow about 'Homework Quiz' - china

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

### Homework Quiz

Interest Rate

Years for money to double

9 years

6

12

36

2400 years

• 8%

• 12%

• 6%

• 2%

• .03%

• Sally is saving money for college and she currently has \$200 in her savings account. Her bank pays a rate of 1% on her money. If her money compounds annually, what will her account be worth in three years?

• I= ???

• P= 200

• R= .01

• T= 1 year (three times)

• 200 x .01 x 1 = 2.00

• 202 x .01 x 1 = 2.02

• 204.02 x .01 x 1 = 2.04

• 206.06

• For fifty years?

• 329.68