Answer:
Completing the table we have;
Explanation:
Given the table in the attached image, we want to complete the table;
[tex]\text{Interest is 1\% compounded monthly}[/tex]
For period 1;
simple interest;
[tex]i_1=Prt=100\times0.01\times1=\text{ \$1.00}[/tex]
Compound interest;
[tex]\begin{gathered} f_1=P(1+\frac{r}{n})^{nt}=100(1+\frac{1}{12})^{1(12)}=\text{ \$}101.00 \\ \text{ Interest = }101.00-100=\text{ \$1.00} \end{gathered}[/tex]
For period 2;
simple interest;
[tex]i_2=Prt=100\times0.01\times1=\text{ \$1.00}[/tex]
compound interest;
[tex]\begin{gathered} f_2=P(1+\frac{r}{n})^{nt} \\ P=f_1=101.00 \\ =101(1+\frac{1}{12})^{1(12)}=\text{ \$}102.01 \\ \text{Interest}=102.01-101=\text{ \$}1.01 \end{gathered}[/tex]
Total interest
simple interest;
[tex]i_t=i_1+i_2=1+1=\text{ \$2.00}[/tex]
Compound Interest;
[tex]\text{ Total interest}=1.00+1.01=\text{ \$2.01}[/tex]
Therefore, completing the table we have;
