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\(\pi\)
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\(\frac{a}{b}\)
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\(a^{b}\)
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\(\dollar 1\,000\) is placed in an account that earns \(10\pourcent\) interest per annum (p.a.), and the interest is allowed to compound over three years. This means the account is earning \(10\pourcent\) p.a. in compound interest.
Fill in the compound interest table:
Year
Amount
Compound interest
0
\(\dollar 1\,000\)
\(10\pourcent\) of \(\dollar 1\,000 = \dollar 100\)
1
\(\dollar 1\,000 + \dollar 100 = \dollar 1\,100\)
\(10\pourcent\) of \(\dollar 1\,100 = \dollar 110\)
2
\(\dollar\)
7
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9
4
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6
1
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C
0
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9
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1
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3
C
0
.
3
\(\dollar\)
7
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9
4
5
6
1
2
3
C
0
.
Find the amount at 3 years.
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9
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C
0
.
dollars
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