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- https://math.libretexts.org/Courses/Cerritos_College/Mathematics_for_Technology/02%3A_Module_2_-_Finances/2.05%3A_Compound_InterestIn a standard bank account, any interest we earn is automatically added to our balance, and we earn interest on that interest in future years. This is because we earned interest not only on the origin...In a standard bank account, any interest we earn is automatically added to our balance, and we earn interest on that interest in future years. This is because we earned interest not only on the original $1000 we deposited, but we also earned interest on the $2.50 of interest we earned the first month. The previous steps were assuming you have a “one operation at a time” calculator; a more advanced calculator will often allow you to type in the entire expression to be evaluated.
- https://math.libretexts.org/Courses/Angelo_State_University/Finite_Mathematics/08%3A_Finance/8.02%3A_Compound_InterestUnlike simple interest, which is applied once per year, compound interest is applied any number of times in regular evenly-spaced intervals. For example, one twelfth of your annual interest rate might...Unlike simple interest, which is applied once per year, compound interest is applied any number of times in regular evenly-spaced intervals. For example, one twelfth of your annual interest rate might be applied every month. In addition, unlike simple interest, any interest already accrued in an account begins to accrue its own interest!
- https://math.libretexts.org/Courses/Rio_Hondo/Math_150%3A_Survey_of_Mathematics/02%3A_Finances/2.04%3A_Compound_InterestIn a standard bank account, any interest we earn is automatically added to our balance, and we earn interest on that interest in future years. This is because we earned interest not only on the origin...In a standard bank account, any interest we earn is automatically added to our balance, and we earn interest on that interest in future years. This is because we earned interest not only on the original $1000 we deposited, but we also earned interest on the $2.50 of interest we earned the first month. The previous steps were assuming you have a “one operation at a time” calculator; a more advanced calculator will often allow you to type in the entire expression to be evaluated.
