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Clint is considering

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Clint is considering investing his money in a savings account that will earn interest.  He has $10,000 to invest.  The savings account he is looking at will earn between 3 and 5% interest on the previous year’s balance for each year that he leaves the money in savings.
Clint calculates the range of interest he would earn after the first year.  He adds that amount as his interest earned for each following year.  Clint thinks that:
  • after two years of leaving his money in savings he will have between $10,600 and $11,000
  • after three years he will have between $10,900 and $11,500

Current Page: 1

GRADE:10

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Questions and Answers Clint is considering

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Word Lists:

Earn : obtain (money) in return for labor or services

Invest : expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture

Balance : an even distribution of weight enabling someone or something to remain upright and steady

Calculate : determine (the amount or number of something) mathematically

Interest : the state of wanting to know or learn about something or someone

Range : the area of variation between upper and lower limits on a particular scale

Account : a report or description of an event or experience

Previous : existing or occurring before in time or order

Consider : think carefully about (something), typically before making a decision

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Additional Information:

Rating: B

Words: 100

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