Simple Interest
How much money would one have in total if they put $34,000 into a savings account with a 4% interest rate for 3 years?
What is $38,080.00?
If Ellie invests $40,000 into an account that is continuously compounded with an interest rate of 2.6%, how much money will she have accumulated after 14 years?
What is $57,562.97?
Total value of $1,500 with 7% interest rate that is continuously compounded for 3 years
What is $1.850.52?
Does the following function show exponential growth, decay, or neither? Explain why!
f(x)=3(0.99)x
Exponential decay because the b-value (0.99) is less than 1.
What is the y-intercept of the following function?
f(x)=100(9/8)x
100
(0,100)
How much interest would you owe if you took out a loan of $210 at 8% for 7 years?
What is $117.6?
What is the amount of money accumulated if you put $1,030 into a savings account with a 4% interest rate compounded semiannually for 2 years?
What is $1,114.91?
The total value accumulated if you start off with $7,300 at 0.7% interest rate compounded daily for 10 years.
What is $7,829.30?
Does the following function show exponential growth, decay, or neither? Explain why!
f(x)=0.99(3.22)x
Exponential growth because the b-value (3.22) is greater than 1.
What is the horizontal asymptote for the following function:
f(x)=100(9/8)x
y=0
What is the total amount of money that you would have to pay for a $4,000 loan with a 3% interest rate after 4 years?
What is $4,480.00?
Bray took out a 78,024 loan at a 4.9% interest rate, and it is compounded daily. How much would he end up paying in total after 8 years?
What is $115,467.62?
Total value accumulated if you started off with $18,000 at 9% interest rate compounded weekly for 6 years.
What is $30,825.95?
Does the following function show exponential growth, decay, or neither? Explain why!
f(x)=4(-1.1)x
Neither exponential growth or decay because the b-value (-1.1) is negative.
TERRIFIC TRIPLE!!!!
You must get the problem COMPLETELY CORRECT to receive points.
Ms. Sherrod loves chocolates. Suppose she buys a bag containing 218 chocolates, and every day she eats half of the chocolates in the bag. Use this information to create a model representing this scenario, and then use your model to find out how many chocolates will she will have after 4 days. (Round your answer to the nearest chocolates).
Model: y=218(1/2)x
After 4 days: 218(1/2)4, which equals 13.6 --> 14 chocolates left
If you put $20,600 into a savings account for 2 years and ended up with $3296 in interest, what is the interest rate at that account?
What is 8% or 0.08?
What account would yield you more money if you have $28,600:
Account A: 7.9% interest rate compounded semiannually for 2 years
Account B: 4.8% interest rate compounded daily for 5 years
What is Account B?
Account A yields $33,393.66, while Account B yields $36,357.15.
Oh no, Billy got scammed! He took out a $30,000 loan for 15 years that is compounded daily. He was told that the interest rate would be 5.9%, but the loan contract "forgot" to add the decimal, so in reality the rate is 59%. How much will Billy end up having to pay in total?
What is $207,742,028.40?
What is the y-intercept of the following function?
f(x)=2(4.5)x
2
(0,2)
Model: y=44000(1-0.07)x
Worth after 18 months: 44000(0.93)18= $11,916.42
Suppose you are saving up to buy a used car costing $19,821. Right now you have $14,580, and you decide to put it into an account with a 7% interest rate. How long will it take for you to get $19,821? (round your answer to the nearest year)
What is 5 years?
How much money is accumulated if $130 is put into an account with a 9.4% interest rate that is compounded each minute, for 12 years?
What is $401.63?
$21,000 at 13.6% compounded every 4th month for 17 years
What is $201,471.71?
What is the horizontal asymptote of the following function?
f(x)=2(4.5)x
y=0
Yay, Billy landed the big bucks! He won the lottery, and buys a Malibu mansion for $16,208,557.00 Suppose the value of the mansion appreciates at a rate of 4.7% per year. How much will the house be worth after 10 years? Create a model to help you answer the question.
Model: y=16,208,557(1.047)10
The house will be worth $25,657,312.83 after 10 years.