Exponential Finance

Front

Aiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

Back

$831.10

Front

John deposits $2,000 yearly into a retirement account (annuity) that pays 7% compounded annually. How much money will be in the account after 25 years?

Back

$126,498.08

Front

Jenkins deposited $5,000 into an annuity after each quarter for 3 years at 6% interest compounded quarterly. How much money will Jenkins have after the 3 years?

Back

$65,206.05

Front

Cynthia invested $2,000 at 4% annually for 10 years. Every year she deposited $2,000 into the account. What is her future value after 10 years?

Back

$24,012.22

Front

Approximately what interest rate would be needed to grow an investment of $1,400 to $2,500 in 10 years with monthly compounding?

Back

5.81%

Front

You want to save $5,000 for future family vacation. If the bank pays 4.3% compounded monthly for 3 years, how much will you need to invest to reach your vacation goal?

Back

$4,395.89

Front

Mansa Musa deposited $1000 in a bank account in the year 1280 with an interest rate of 1.0% compounded continuously. How much money would he have had in the year 2020?

Back

$1,635,984.43

Front

To finance their home, Mr. and Mrs. Johnson have agreed to a $120,000 mortgage loan at 7.25% APR. Determine their monthly payments if the loan has a term of 15 years.

Back

$1095.44