Unit 2B Test Review

Front

What is the formula to calculate the future value of an investment with compound interest?

Back

Future Value = P(1 + r/n)^(nt), where P = principal amount, r = annual interest rate, n = number of times interest is compounded per year, t = number of years.

Front

How do you calculate the pH of a solution?

Back

pH = -log[H+], where [H+] is the concentration of hydrogen ions in mol/L.

Front

What is the definition of continuous compounding in finance?

Back

Continuous compounding is the process of earning interest on an investment that is calculated and added to the principal continuously, rather than at discrete intervals.

Front

If a social media site has 39,560 users and grows by 5% per month, how do you calculate the user base after 6 months?

Back

Use the formula: Future Value = Present Value * (1 + growth rate)^number of periods. Here, FV = 39560 * (1 + 0.05)^6.

Front

What is the inverse of a function?

Back

The inverse of a function f(x) is a function that reverses the effect of f, denoted as f^(-1)(x). If f(a) = b, then f^(-1)(b) = a.

Front

What is the significance of the hydrogen ion concentration in determining pH?

Back

The pH scale measures the acidity or basicity of a solution based on the concentration of hydrogen ions; lower pH values indicate higher acidity.

Front

What is the formula for calculating the amount of interest earned on an investment compounded quarterly?

Back

Interest = P(1 + r/4)^(4t) - P, where P = principal, r = annual interest rate, t = time in years.

Front

How do you find the concentration of hydrogen ions from a given pH value?

Back

Use the formula: [H+] = 10^(-pH). For example, if pH = 1.4, then [H+] = 10^(-1.4) = 0.04 mol/L.

Front

What is the difference between simple interest and compound interest?

Back

Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal plus any interest that has already been added.

Front

What does it mean for an investment to compound interest continuously?

Back

It means that interest is calculated and added to the principal at every possible moment, leading to exponential growth.