Flashcard 7-3 Review
Flashcard
•
Mathematics
•
11th Grade
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is the formula for compound interest?
Back
The formula for compound interest is A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, including interest. P is the principal amount (the initial amount of money), r is the annual interest rate (decimal), n is the number of times that interest is compounded per year, and t is the number of years the money is invested or borrowed.
2.
FLASHCARD QUESTION
Front
What does it mean for interest to be compounded semi-annually?
Back
Compounding semi-annually means that the interest is calculated and added to the principal twice a year.
3.
FLASHCARD QUESTION
Front
Calculate the future value of an investment of $1,500 at an interest rate of 8.25% compounded semi-annually for 3 years.
Back
The future value is $1,911.70.
4.
FLASHCARD QUESTION
Front
What is the total return on a $20,000 investment at 5.2% interest compounded annually over 3 years?
Back
The total return is $23,285.05.
5.
FLASHCARD QUESTION
Front
What type of growth is represented by the function f(x) = 0.25(1.3)^x?
Back
This function represents Exponential Growth.
6.
FLASHCARD QUESTION
Front
What is the future account balance for a principal of $5,000 at an interest rate of 3.75% compounded monthly over 25 years?
Back
The future account balance is $12,749.30.
7.
FLASHCARD QUESTION
Front
Which investment yields a larger balance after 5 years: 4% compounded monthly or 3.9% compounded daily?
Back
The investment at 4% compounded monthly yields a larger balance.
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