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tiktoktoe project 4 math
Updated: 3/28/2020
tiktoktoe project 4 math
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Storyboard Text

  • I plan on putting in 5,000$
  • If you leave it alone, we add 2.3% semi-annually
  • I plan on putting in 5,000$
  • If you leave it alone, we add 1.5% monthly
  • Ana is looking for a bank to put her son's trust fund in.
  • Honey, have you heard of compund interest rate.
  • Bank 1 has a 2.3% interest rate that's compounded semi-annually, twice a year. We plan on giving our son the money when he is 18. Meaning the formula would be: 5,000(1+.023/2)^18x2.The amount after 18 years is=$7,546.44
  • Two banks that are near her house set up interviews with her.
  • Bank 2 has a 1.5% interest rate that is compounded monthly, 12 times a year. The money will be used after18 years, so the formula is:5,000(1+.015/12)^18x12The amount after 18 years is=$6,548.72
  • Ana has no idea what to do with the information that was given to her
  • Ana tells her husband, Ciel, about her dilemma.
  • He shows Ana the formula compound interest rate, and how to use them to her benefit
  • Ana was able to choose a bank with the help of her husband and now her son has a financially ready future.
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