1) Using the compound interest equation that we saw in class, create a table comparing the amount of money in the account at 100% interest after one year. We did the first two (yearly, every 6 months).
yearly: $2
6 months: $2.25
quarterly:
monthly:
daily:
hourly:
2) If I put $25,000 away for 10 years at 8%, how much more money do I make if the interest is compounded daily as opposed to yearly?
*note: the 8% was added because it is needed and i forgot to put it in there.