From 3a2a3201e3aa16143fc3b11b38d2cd5fd3047c26 Mon Sep 17 00:00:00 2001
From: Yun-Fang Juan END_AMOUNT
- The interest rate is RATE% so the contribution
- will multiply by MULTIPLIER
- a year.
+ The interest rate is RATE%. So after each year
+ we have With the beginning amount of $BEGIN_AMOUNT,
+ With the beginning amount of
+ After 2 years, the contribution will grow to After After PERIODS years,
$END_AMOUNT is available to pay for
person(1)'s college from
- he(2) === "he"? "Uncle":"Auntie" person(2)
- 's initial contribution of $BEGIN_AMOUNT.100
% of the money we started with,
+ plus another RATE% in interest. In other words,
+ we will have MULTIPLIER
+ times off the money we started with at the end of the year.
$BEGIN_AMOUNT
,
after one year, the contribution will grow to
$BEGIN_AMOUNT \times MULTIPLIER
.
+
2
years, the contribution will grow to
$BEGIN_AMOUNT \times MULTIPLIER \times
MULTIPLIER =
$BEGIN_AMOUNT \times MULTIPLIER^2
@@ -72,8 +75,8 @@
The return rate for the bank CD is RATE_BANK% so - the investment will multiply by MULTIPLIER_BANK - a year.
+
+ The return rate for the bank CD is RATE_BANK%.
+ So after each year we have 100
% of the money
+ we started with, plus another RATE_BANK% in interest.
+ In other words, if we invest the money in the bank CD, we will have
+ MULTIPLIER_BANK
+ times off the money we started with at the end of the year.
+
With the beginning amount of $BEGIN_AMOUNT, after PERIODS years, the investment will grow to