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Come up and complete the exercise by calculating compound interest for each percentage rate. A=P [1+i] n 5 years $500 10 years @7% 20 years 5 years $500 10 years @10% 20 years A few volunteers will share their answers to the following

  1. Come up and complete the exercise by calculating compound interest for each percentage rate.

  3. A=P [1+i] n 5 years $500 10 years @7% 20 years 5 years $500 10 years @10% 20 years

  5. A few volunteers will share their answers to the following practice assignment:

  6. Pedro is 18 and begins now investing $1,200 a year at 7% interest. How much will he have at age 65? If he does not begin saving until 35, how much money will he have instead at 65? How long will it take his money to double at 7% interest rate?

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