suppose you have $600 to invest in a savings plan, and you want to compare 4 different ways you could invest the money. round answers to the nearest cent method 1: find the balance after one year if you deposit all the money into an account that pays $2.50 in simple interest each month (this is a simple interest equation where the amount of interest stays the same each month). number method 2: find the balance after one year if you deposit all the money into an account that pays 5% apr with monthly compounding. number method 3: suppose if, instead of depositing the $600 all at once, you deposit nothing at the beginning and you divide up the $600 into 12 envelopes each with $50. find the balance after one year if you deposit one $50 envelope each month, all year, into an account that pays 5% apr with monthly compounding. number method 4: suppose if, instead of depositing the $600 all at once, you make an initial deposit of $300 into an account that pays 5% apr at the beginning of the year and then you divide up the remaining $300 into 12 envelopes each with $25. find the balance after one year for the initial deposit of $300, if you also deposit one $25 envelope each month, all year, into the account that pays 5% apr with monthly compounding.
