Applications of Logs/Exponentials

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?

• $1,225,54
• $2,225.54
• $22,255.40
• $225.54

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.

• $15,415.94
• $15,683.28
• $15,927.56
• $16,109.05

Convert 3% to a decimal.

• .03
• .30
• .05
• .06

Change 32% into a decimal.

• 32
• 3.2
• .32
• .032

What does the P stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year.

Tags

CCSS.HSF-IF.C.8B

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Oscar put $7500 into an account paying 5% compounded continuously. He now has $10,643.01. How long, to the nearest year, has the money been in the account?

• 7 years

• 6 years

• 5 years

• 4 years

Tags

CCSS.HSF.LE.A.4

Galina invests $8,327 in a savings account with a fixed annual interest rate compounded semiannually. After

10 years, the balance reaches $10,292.10. What is the interest rate of the account?

• 1.06%

• 1.23%

• 2.13%

• 2.37%

Kathryn invests $8,327 in a savings account with a fixed annual interest rate compounded continuously. After 10

years, the balance reaches $18,532.08. What is the interest rate of the account?

• 6%

• 7%

• 8%

• 9%