Someone deposited 1000 yuan in the bank on January 1, 2002, with an annual interest rate of 10%. Calculation: compound interest once a year. What is the balance of the deposit account on January 1, 2005?

Someone deposited 1000 yuan in the bank on January 1, 2002, with an annual interest rate of 10%. Calculation: compound interest once a year. What is the balance of the deposit account on January 1, 2005?

Because f = P * (1 + I) ^ n, P = 1000, I = 10%, n = 3
So f = 1000 * 1.1 ^ 3 = 1331 (yuan)
A: on January 1, 2005, the balance of the deposit account was 1331 yuan

Please ask someone of a company to deposit 1000 yuan into the bank with an annual interest rate of 5% and a term of 3 years. How much interest should the bank pay when the term is reached by simple interest and compound interest?

Simple interest: 1000 * 5% * 3 = 150.00 yuan
Compound interest: 1000 * (1 + 5%) ^ 3-1000 = 157.63 yuan

What is the final value after five years? (compound interest final value coefficient 1.611)

VN = VO * (1 + I) ^ n = 1000 * (1 + 0.1) ^ 5 = 16105.1 yuan

Someone deposits 100 yuan in the bank with compound interest rate of 2%, and calculates the final value after five years

Final value of compound interest = present value × (1 + interest rate) number of periods = present value × coefficient of final value of compound interest = 100 * (1 + 2%) * (1 + 2%) * (1 + 2%) * (1 + 2%) * (1 + 2%) * (1 + 2%)
Compound final value coefficient has a special table to query, you can not calculate