Investment Future Value
Maria invests $3,500 in an account earning 5% interest compounded annually for 8 years. What is the investments future value?
$5,171.09
A student charges $1,800 to a credit card with 18% interest compounded monthly. They make no payments for 2 years. How much will they owe after 2 years?
$2,573.11
An investment doubles every 8 years. Is the growth linear or exponential?
Exponential
A student buys a car and finances $18,000 at 6.5% interest for 5 years with monthly payments. What are their monthly payments?
$352.19
Jalen deposits $6,000 into an account that earns 4.2% interest compounded monthly for 5 years. What will the account be worth at the end of 5 years?
$7,399.35
Someone takes out a $15,000 car loan at 7% interest compounded monthly. They make no payments for 3 years. What is the total amount owed after 3 years?
$18,493.88
A car loses 15% of its value each year. Is the car’s value over time linear or exponential?
Exponential
A borrower takes out $32,000 at 5% interest for 10 years, paid monthly. What is the monthly payment?
$339.41
A business invests $12,000 at 6.5% interest compounded quarterly for 10 years. What is the future value of the investment?
$22,866.71
A borrower takes out a $25,000 student loan at 5.5% interest compounded annually. They defer payments for 4 years. How much will the loan balance be after 4 years?
$30,970.62
A student’s phone plan adds 5 GB of data every month. Is the total data available after t months linear or exponential?
Linear
Someone borrows $7,500 at 9% interest for 3 years, paid monthly. Find the Monthly Payment.
$238.50
Sophia invests $2,200 at 3.8% interest compounded daily for 6 years. What is the future value of the investment?
$2,763.35
A person borrows $8,500 at 9% interest compounded quarterly. They make no payments for 5 years. What will the balance be after 5 years?
$13,264.33
Jasmine deposits $2,000 into a savings account earning 6% interest compounded annually. Is the account balance over time linear or exponential?
Exponential
A buyer finances $12,000 at 7.2% interest for 4 years, with monthly payments. Find the monthly payment.
$288.47
A student invests $9,500 at 7% interest compounded semiannually for 12 years. Find the future value of the investment.
$21,691.62
Someone borrows $1,200 at 22% interest compounded monthly. They make no payments for 1 year. How much will they owe after 1 year?
$1,492.32
A gym charges a $50 sign-up fee and $30 per month. Is the total cost linear or exponential?
Linear
A business owner borrows $50,000 at 8% interest for 7 years, with monthly payments. What is the required monthly payment?
$779.31