1) I invest $500 in a Savings Bond and earn $5 in interest every year for five y

Question

1)  I invest $500 in a Savings Bond and earn $5 in interest every year for five years at which point my balance is $525.  What kind of interest did I earn? A)
Compact Interest B)
Compound Interest C)
Exponential Interest   D) Simple Interest





2)    An account with interest compounded monthly and an APR of 4% increases in value each year by a factor of?




3)       My APY is higher than my APR. Sometimes true.
Never true.
Always true.







1.0033
1.33
1.04
1.0407





1)  I invest $500 in a Savings Bond and earn $5 in interest every year for five years at which point my balance is $525.  What kind of interest did I earn? A)
Compact Interest B)
Compound Interest C)
Exponential Interest   D) Simple Interest





2)    An account with interest compounded monthly and an APR of 4% increases in value each year by a factor of?




3)       My APY is higher than my APR. Sometimes true.
Never true.
Always true.







1.0033
1.33
1.04
1.0407

Explanation / Answer

1) D

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