Algebra 1 | Unit 5 | Lesson 16: Compounding Interest | Practice Problems

Automobiles start losing value, or depreciating, as soon as they leave the car dealership. Five years ago, a family purchased a new car that cost $16,490. If the car lost 13% of its value each year, what is the value of the car now?

The number of trees in a rainforest decreases each month by 0.5%. The forest currently has 2.5 billion trees. Write an expression to represent how many trees will be left in 10 years. Then, evaluate the expression.

A bank account pays 0.5% monthly interest. If $500 is put in the account, what will the balance be at the end of one year, assuming no additional deposits or withdrawals are made?

A bank account pays 0.5% monthly interest. What is the effective annual interest rate? Is the effective annual interest rate more or less than 6% (the nominal interest rate)?

A major retailer has a staff of 6,400 employees for the holidays. After the holidays, they will decrease their staff by 30%. How many employees will they have after the holidays?

Ten students guessed the number of cubes in a jar that contains 202 cubes. Their names and guesses are listed in the table. Create a scatter plot with the guesses as the horizontal values and the absolute guessing errors as the vertical values.