Qa Money Management

Question by Marcin: money management?
ok im having diffiulties
john placed 600$ into a savings acc which earned him 6% compounded interest for 5 years
1 how much interest did he earn at the end of the 5 years?
2 what was his ending balance over 5 years

then its something like....
Princible x rate = interest
princible + interest = new balance
this goes on to 5 years ( like year 1 answer the princible things )
plus teach me how to do it

PS i was absent 4 days ( flu so im like dumb right now )
19 minutes ago - 3 days left to answer.
Additional Details
15 minutes ago

PS

need help can u get me a money management definiton for the following

economy

invest

stockbroker

bond

mutualfunds
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Best answer:

Answer by oil_tycooon
GO DO YOUR OWN HOMEWORK!! if you want interest formula Principle X (1xi)^n . Plug it in and n is the number of periods. If you want it to be compounded monthly or quaterly devide i into the appropriate number. and use dictionary.com to get your definitions.

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