8 Conceptual Which type of series models simple interest? Which typemodels compaund interest?9 Conceptual How are outcomes and growth paterns relatad? Investigation 8Part 1:An amount of $1000 is invested into an account that pays 5% per annumsimple interest on a monthly basis.1 Calculate the amount of interest paid per month.2 Find the value of this investment after the first three months.3 What do you notice about this sequence? What sort of sequence is it?4 Write the general formula that can be used to find the amount of theinvestment after 2 months.5 Use your formula to calculate the value of investment after two years.Part 2:An amount of $1000 is invested into an account that pays 5% per annumcompound interest. Interest is compounded monthly.1 Calculate the amount of interest paid after the first month.2 Find the value of the investment after the first month.3 Continue this process for the second and third months.4 What do you notice about this sequence? What sort of sequence is it?5 Write the general formula that can be used to find the amount of theinvestment after z months.6 Use your formula to calculate the value of investment after two years.7 Compare your answers from the final question of each part. Whichinvestment is worth more; the simple interest or the compoundinterest?

Name: 8 Conceptual Which type of series models simple interest? Which typem
Uploaded: 2024-03-20T06:38:58.000Z
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Description: 8 Conceptual Which type of series models simple interest? Which typemodels compaund interest?9 Conceptual How are outcomes and growth paterns relatad? Investigation 8Part 1:An amount of $1000 is invested into an account that pays 5% per annumsimple