I SAVED, I PROFIT!Situation 1:Suppose you started a savings account when you were 10 years old with P 500.00,but you have not added any amount to it thereafter.a. Creatively make charts showing the patterns which would lead to the formula incomputing your savings account now using 3% simple interest and 3% compoundinterest quarterly. The chart must contain the important details like the tablebelow;Simple InteresttPrincipaAnnualBalance at End ofInterestthe Year12Compound InteresttPrincipalAnnualBalance at End of& Interest Interestthe Year12the differencetheb.Describebetweencreated.3chartsyouWhich do you thinkbest interest when you save money?Situation 2:You started with the same amount at 10 years old, but this time you add P 100.00a month until you turn 18 years old.a. How much money do you have now assuming it still gets 3% interest?b. How much money did you actually put on it?c. How much was the interest earned? ActivityGoal: To create charts through investigations and thorough understanding in orderto show patterns which would lead to the solutions of the problems on simple andcompound interest and general annuities.Role: Financial Adviser. Making sure that the possible bank depositors willcollaborate on the beneficial interest for their savings.Audience: Young Bank DepositorsSituation: The Young Bank Depositors will be oriented on the Pros and Cons ofsaving money. The students will be presenting which interest is best through theircreatively done charts. Furthermore, they as well demonstrate how they solve theproblems using the concepts they've learned on simple and compound interest.Product: A Depositors' Forum PresentationStandards and Criteria for Success:* Demonstrate an understanding of key concepts of simple and compoundinterests, and simple and general annuities.* Solve problems of simple and compound interest, and general annuities

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I SAVED, I PROFIT! Situation 1: Suppose you started a savings account when you were 10 years old with P 500.00, but you have not added any amount to it thereafter. a. Creatively make charts showing the patterns which would lead to the formula in computing your savings account now using 3% simple interest and 3% compound interest quarterly. The chart must contain the important details like the table below; Simple Interest Principa Annual Balance at End of Interest the Year 1. Compound Interest t Principal Annual Balance at End of & Interest Interest the Year 1 2 Describe b. between created. difference charts the 3 the you c. Which do you think is best interest when you save money? Situation 2: You started with the same amount at 10 years old, but this time you add P 100.00 a month until you turn 18 years old. a. How much money do you have now assuming it still gets 3% interest? b. How much money did you actually put on it? c. How much was the interest earned?

I SAVED, I PROFIT! Situation 1: Suppose you started a savings account when you were 10 years old with P 500.00, but you have not added any amount to it thereafter. a. Creatively make charts showing the patterns which would lead to the formula in computing your savings account now using 3% simple interest and 3% compound interest quarterly. The chart must contain the important details like the table below; Simple Interest Principa Annual Balance at End of Interest the Year 1. Compound Interest t Principal Annual Balance at End of & Interest Interest the Year 1 2 Describe b. between created. difference charts the 3 the you c. Which do you think is best interest when you save money? Situation 2: You started with the same amount at 10 years old, but this time you add P 100.00 a month until you turn 18 years old. a. How much money do you have now assuming it still gets 3% interest? b. How much money did you actually put on it? c. How much was the interest earned?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 3MC: Refer to the present value table information on the previous page. If Kathleen put 3,000 in a...

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