Table 21.4: TABLE 21.3 The Growth of $1000: Compound Interest Versus Simple Interest
Years Amount in Account with
Compounded Interest
Amount with
Simple Interest
1 1100.00 1100.00
2 1210.00 1200.00
3 1331.00 1300.00
4 1464.10 1400.00
5 1610.51 1500.00
10 2593.74 2000.00
20 6727.50 3000.00
50 117,390.85 6000.00
100 13,780,612.34 11,000.00