Target Essay Samples and Topic Ideas
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target to get a total of $ 1000 after three years, less money will be deposited for an interest rate of 4 % as compared to a 3% interest rate. An interest rate shows the amount of earning in terms of profit per dollar per month or per year. Thus, a 4 % interest rate per annum will imply that for each dollar deposited, the earnings will be four dollars per annum. Thus, making a deposit of say $ 100 with an interest rate of 4 % per annum means that my money will earn me exactly four dollars for each financial year. Given that the rate of interest is lowered to three, for $ 100, it implies that for each year that my money will be in the saving account, I will receive exactly three dollars (Koller, et...