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Visual 2
Watching Money Grow -- Answer Key
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A |
B |
C |
D |
E |
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Year |
Beginning Amount
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Interest
Rate
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Annual Interest
(B x C)
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End-of Year Amount
(B + D) |
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1 |
$10,000.00 |
0.06 |
$600.00 |
$10,600.00 |
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2 |
10,600.00 |
0.06 |
636.00 |
11,236.00 |
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3 |
11,236.00 |
0.06 |
674.16 |
11,910.16 |
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4 |
11,910.16 |
0.06 |
714.61 |
12,624.77 |
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5 |
12,624.77 |
0.06 |
757.49 |
13,382.26 |
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6 |
13,382.26 |
0.06 |
802.94 |
14,185.19 |
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7 |
14,185.19 |
0.06 |
851.11 |
15,036.30 |
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8 |
15,036.30 |
0.06 |
902.18 |
15,938.48 |
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9 |
15,938.48 |
0.06 |
956.31 |
16,894.79 |
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10 |
16,894.79 |
0.06 |
1,013.69 |
17,908.48 |
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