Middle School Madness - March 27, 2023

You earned $550 from a summer job mowing lawns in your neighborhood.  You decide to put the money in a savings account.  There are three banks near your home.  Bank A offers a saving account that pays an annual interest rate of 4%.  Bank B offers a savings account that pays a 6-month interest rate of 2% (compounded every 6 months) and Bank C offers a 3-month interest rate of 1% (compounded every 3 months).  Determine which bank will produce the greatest amount of interest. What will be the total amount in this account after one year?  

Submit answer

Immediately after your correct answer is submitted, your name will be posted here.

Looking for a hint to this week’s problem? Check us out on Instagram @themathcontest

NOTE: Anyone can answer Middle School Madness questions, but only participants 15 years of age or younger will be awarded points and displayed in the rankings.

Past problems
Individual Monthly & Annual Rankings
Leaderboard Monthly & Annual Rankings

Custom Leaderboards Are Here!

Take the competition to the next level and encourage participation by creating custom leaderboards for your students or friends to join. Click below to try it out now!

Get Started with Custom Leaderboards