Interactive practice questions
At the start of each month, Oliver deposits $\$2000$$2000 into a savings account to help him set money aside for bills. This savings account earns $12%$12% p.a. interest, compounded monthly.
The table below shows the first few months of 2013. All values in the table are to the nearest cent.
Fill in the row for June. Give all values to the nearest cent.
| Month | Balance at beginning of month | Monthly payment | Interest | Balance at end of month |
|---|---|---|---|---|
| March | $30000$30000 | $2000$2000 | $320$320 | $32320$32320 |
| April | $32320$32320 | $2000$2000 | $343.20$343.20 | $34663.20$34663.20 |
| May | $34663.20$34663.20 | $2000$2000 | $366.63$366.63 | $37029.83$37029.83 |
| June | $\editable{}$ | $\editable{}$ | $\editable{}$ | $\editable{}$ |
Easy
5min
To save for a deposit on a house, Yuri sets aside $\$2000$$2000 at the start of each month into a savings account that earns $12%$12% p.a. interest, compounded monthly.
The table below shows a few months of 2016. All values in the table are to the nearest cents.
Easy
2min
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