A new car is purchased for 21100 dollars. The value of the car depreciates at 10.5% per year.
Write the exponential function.
Question 2
2.
Use your answer to [1].
What will the value of the car be, to the nearest cent, after 6 years?
L7-2: Compound Interest
from yesterday:
basic exponential: y=a(b)^x
annual growth: y=a(1+r)^x
new:
compound interest: y=a(1+\frac{r}{n})^{nt}
*note: many financial instituions use A=P(1+\frac{r}{n})^{nt}
continuous interest: y=a(e)^{rt}
*note: many financial instituions use A=Pe^{rt}
*note2: e\approx2.72 you can find it on your calculator
Question 3
3.
What is a? (or P)?
Question 4
4.
What is r?
Question 5
5.
What is t?
Question 6
6.
What is n?
Question 7
7.
Give at least three componding times, and the values that n could equal.
Question 8
8.
Zoe invested $16,000 in an account paying an interest rate of 3.6% compounded quarterly.
What is the equation?
Question 9
9.
Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 20 years?
Question 10
10.
Brody invested $220 in an account paying an interest rate of 3.6% compounded annually.
What is the equation?
Question 11
11.
Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 17 years?
Question 12
12.
Samuel invested $53,000 in an account paying an interest rate of 6.7% compounded continuously.
What is the equation?
Question 13
13.
Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 17 years?
Question 14
14.
Question 15
15.
Write the equation for [13], the only variable to remain should be the one for what we are looking for.
Question 16
16.
Question 17
17.
Question 18
18.
Parker is going to invest in an account paying an interest rate of 3.1% compounded daily. How much would Parker need to invest, to the nearest dollar, for the value of the account to reach $4,000 in 8 years?
What is your equation?
Question 19
19.
What is the amount?
Question 20
20.
You can now finish a total of 5 sections of DeltaMath.
Brianna is going to invest in an account paying an interest rate of 5.2% compounded monthly. How much would Brianna need to invest, to the nearest ten dollars, for the value of the account to reach $6,600 in 11 years?
What are you looking for in this question?
r = the rate
y = the final amount (A)
a = the starting amound aka the principle (P)
t = time
Which would give you the correct solution? [on a graphing/scientific calcluator with mathprint - exponents look like exponents]
6600/(1+.052/12)12*11
6600/(1+\frac{0.52}{12})^{12*11}
6600/1+.052/1212*11
Which would give you the correct solution? [on the Desmos scientific calcluator]