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Assignment 7: Compount Interest

Last updated over 5 years ago

8 Nsɛmmisa

Hyɛ no nsow a efi ɔkyerɛwfo no hɔ:

Algebra 2 Compound Interest

1

Asemmisa {{asɛmmisaAhyɛnsode}}

1.

Make sure you use a dollar sign ($) and round to the nearest cent or it will count it wrong. Also use a comma to separate thousands.
i.e.
$48,678.45

1

Asemmisa {{asɛmmisaAhyɛnsode}}

2.

Select the better investment

9% compounded monthly

9.3% compounded annually

1

1

1

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5.

$5,946.03

$5,946.26

$2,060.20

$698,488.52

1

1

1

Asemmisa {{asɛmmisaAhyɛnsode}}

3.

Asemmisa {{asɛmmisaAhyɛnsode}}

4.

$8,733.01

$7,920.93

$8,450.43

$4,268.93

Asemmisa {{asɛmmisaAhyɛnsode}}

6.

How much more than $175,000 did you end up paying?
Round to the nearest dollar.
Use dollar sign ($) and comma to separate thousands
i.e.
$34,578

Asemmisa {{asɛmmisaAhyɛnsode}}

7.

$2,206.07

$2,863.66

$685.29

$9,218.65

Asemmisa {{asɛmmisaAhyɛnsode}}

8.

If your interest is compounded continuously. How much money will be in the account after 11 years?