Finance - Interest

Introduction $2000 has been placed into a bank account over a period of 4 to 10 years. There are 2
different financial options to choose from. Option 1 uses simple interest and the other
uses compound interest. Which option is the option for you?

Mathematical Investigation

Analysis/discussion
From the results above, we can see that there is both cons and pros with the simple and
compound interest. If you were going to need the money in the first 4-7 years simple

interest would be the option for you but then on the other hand if you wanted to save the
money for 8-10 years compound interest would be the good option to take.
To get the results and the graph youve got to do a little bit of math. First to work out
the compound interest we had too