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3.6/3.7 FA HW continuous and future value

Authored by darek tillman

Mathematics

9th - 12th Grade

CCSS covered

Used 3+ times

3.6/3.7 FA HW continuous and future value
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20 questions

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1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The principal value is $200. Interest is compounded quarterly at a rate of 10%. What will the future value be in 10 years?

$209.50

$599.20

$537.01

None of the above

Tags

CCSS.HSF-LE.A.1C

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The principal is $1,200. Interest is compounded monthly at a rate of 8%. How many years does it take for the total amount to reach $2,000?

6 yrs

6.4 yrs

6.5 yrs

8 yrs

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

You invest $1600 at an annual interest rate of 4.6% compounded continuously. How much will you have in the account after 4 years.

$1,923.23

$10,138.07

$6,701.28

$800.26

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Hugo opened a savings account and deposited $800 as principal. The account earns 4% interest, compounded continuously. What is the balance after 5 years?

$832.00

$977.12

$973.32

$960.00

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Travis earned $180.72 doing odd jobs last summer and put it in a saving account that earns 15% interest compounded continuously. If he doesn't touch his money for 8 years, how much will he have?

$400

$500

$553

$600

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Why does the formula for compound interest P = ert have no "n" variable?

As the value of n gets higher and higher, the value of (1 + r/n)rt approaches the value of e, so we substitute in e

The value of n approaches zero in continuous compounding, so we cannot use the compound interest formula

a and b above are both correct

¯\_(ツ)_/¯

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A person invests $1,000,000 at an interest rate of 4% compounded monthly. What will be their balance at the end of 8 years?

$2,376,395.02

$1,376,395.12

$491,196.08

Not enough information given

Tags

CCSS.HSF-LE.A.1C

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