Financial Mathematics

Logarithms

100

Solve for x: 4^x=256

x=4

200

Solve for x: 200(1.04)^x=600

x=28.01

300

Solve for x: 20^-6x + 6 = 55

x = -0.2165

Interest Compounded Annually

100

You invested $52,400 at 6% compounded annually for 5 years. What is the interest earned on this investment?

$17723.02

Interest Compounded Several Times a Year

100

Brenda invests $4,848 in a savings account with a fixed annual interest rate of 5% compounded 2 times per year. What will the account balance be after 6 years?

$6520.02

200

Ryan invests a sum of money in a savings account with a fixed annual interest rate of 4.31% compounded 12 times per year. After 10 years, the balance reaches $12,855.94. What was the amount of the initial investment?

$8,361

300

If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until there is $8000 in the account?

x = 7.9

Simple Interest

100

Wayne invests $3000 and earns 5.3% simple interest for 5 years. How much interest does he earn?

$795