compound interest

Jimmy’s Smart Investment: Earning 2% on $4,000

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Jimmy invests 4000 in an account that pays 2

Jimmy invests 4000 in an account that pays 2 – Jimmy’s got a smart move: he invested $4,000 in an account that pays 2% annual interest. Let’s dive into his investment journey and see how his money grows over time. Jimmy invested $4,000 in an account that pays 2% interest. If he needs the money … Read more

If you deposit 1000 into an account that pays 4: A guide to understanding interest and future value

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If you deposit 1000 into an account that pays 4

If you deposit 1000 into an account that pays 4, you’re essentially lending that money to a bank or other financial institution. In return, they pay you interest on the money you’ve deposited. This interest is calculated based on the amount of money you’ve deposited, the interest rate, and the length of time that you … Read more