Hint for the below problems: “Tier 3” above is 0.30%...as a decimal, that is 0.0030, not 0.30 Say I have $300 that I can put in one of these accounts. It would qualify for the “Tier 2” APR and I can leave it in there for twenty years. How much interest would it earn? (2 points)
Meanwhile, my wealthy friend has $30,000 that she can deposit. That qualifies for the “Tier 4” APR and she will leave it in there for twenty years, too. How much interest would it earn?(2 points)
How does this support the quote at the very top of the page? (1 point)