Family Compound Interest Activity
I have completed my homework assignment which is on Moodlic for week 4: Discussing compound interest with your family. My parents have reminded me about one situation (a real life situation) that I didn't know I could apply math in it. This is my situation: When I was born my grandparents have given me 1000 euros and my parents have put it in the bank, it stays there for 16 years. So, I can use that money for whatever I want- A TRIP TO AMERICA was my first choice. This was a great opportunity to calculate how much money I will have in two years!
A = 1000 ( 1 + 0.06 ) ^16 = 2540.4 EUROS
I believe that this is enough money in order to have an awesome trip in America! :)
I have completed my homework assignment which is on Moodlic for week 4: Discussing compound interest with your family. My parents have reminded me about one situation (a real life situation) that I didn't know I could apply math in it. This is my situation: When I was born my grandparents have given me 1000 euros and my parents have put it in the bank, it stays there for 16 years. So, I can use that money for whatever I want- A TRIP TO AMERICA was my first choice. This was a great opportunity to calculate how much money I will have in two years!
A = 1000 ( 1 + 0.06 ) ^16 = 2540.4 EUROS
I believe that this is enough money in order to have an awesome trip in America! :)
Аутор је уклонио коментар.
ОдговориИзбришиThis is a fantastic real-life example, Jovana. But what if you didn't take a trip to America and just left the money in there for another 50 or 60 years. How much would you have then?
ОдговориИзбриши