In which situations you may use simple or compound interest?
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I want to open a savings account. The bank offers me a 10% interest rate. I deposit 1000$ for 2 (!) years. Using a compound interest, calculate how much money you will have by the end of your 2nd year.
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Which interest formula do banks normally use - simple interest or compound interest?
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I want to invest in a company. They promised me high returns but I don't see how they are going to make so much money. Should I invest?
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I want to take a loan - 500$. The bank offered a 7% loan, but I have to return money in 1 year. How much money will I return in total?
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What's the formula of compound interest?
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If you are offered a 50% interest rate for your savings account (deposit) - what will you do?
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What's the formula of simple interest?
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What's the difference between simple interest and compound interest?
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What is interest rate?
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