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Compound
| Variable | Question text | Label |
|---|---|---|
| Q1 | 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? | |
| Q1_Answer | Interest Rate Implied: | |
| Q2 | 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. | |
| Q2_Answer10 | How much money will you have in the account after 10 years? | |
| Q2_Answer20 | How much money will you have in the account after 20 years? | |
| Q2_Answer40 | How much money will you have in the account after 40 years? |