compound
Variable | Question text | Label |
---|---|---|
c001 | Suppose you were buying a car and took out a loan for $10,000. You agree to pay off the loan in a year by paying $1,000 each month for 12 months.
What percent rate of interest do these payments imply? | percent rate of interest |
c002a | You currently have a balance of $10,000 in a savings account. The interest rate is 4%. Interest is compounded annually and reinvested into the account. No other money is added to the account.
How much money will you have in the account after 10 years? | how much money after 10 years |
c002b | And after 20 years? | how much money after 20 years |
c002c | And after 40 years? | how much money after 40 years |