pls do it on excel: To get an idea just how powerful compound interest is compared...

pls do it on excel:

To get an idea just how powerful compound interest is compared to simple interest, calculate the accumulated value of a $8000 deposit after 0.10, 0.50, 0.80, 1, 3, 6, 12, 20, 30, 40 and 50 years using rates of interest of 3%, 6% and 9%. For each interest rate, do SIX calculations: one assuming simple interest, and four assuming compound interest rates of i, i (2) , i (4) and i (12) , along with calculating the difference between the accumulated values under compound interest at i and under simple interest (just the i vs. simple interest, not the i (2), etc)

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milcah answered 4 months ago

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