Table 2: Cheyenne
Cheyenne opened a savings account with a one-time deposit of $100 that will be left in the
account for at least 5 years. The savings account will pay 5% compound annually. Use the
chart below to calculate the amount of interest she will earn in 5 years.
Year
Amount that
will Earn
Interest
Interest Rate
Interest
Earned
(Amount that
Ending
Balance
will earn
interest X
Interest Rate)
0 (Initial
5%
$100
amount)
End of Y1
$100
End of Y2
$105
End of Y3
$110.25
End of Y4
$110.25
End of Y5
Insert text here
55555
5%
$5.00
$105
5%
$5.25
5%
$5.5125
$110.25
$110.25
5%
$5.5125
5%
TOTAL
$127.63
+