PRECALCULUS ALGEBRA MAC 1140
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This 4 page Study Guide was uploaded by Nathen Fadel on Thursday September 17, 2015. The Study Guide belongs to MAC 1140 at Florida State University taught by Staff in Fall. Since its upload, it has received 32 views. For similar materials see /class/205607/mac-1140-florida-state-university in Calculus and Pre Calculus at Florida State University.
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Date Created: 09/17/15
Section 46 Compound Interest Rate Based on 45 Compound Interest Formula 0 Awt P1Lquot n Where F39 Principai PresentVaiue A t Amuunt Future Vaqu With n umpuunds per year a ert years r numinai annuai rate er interest iri DECiMAqurm n number er cumpuunds peryear v o Reiated Prubiems Nuticefrumthe eempeunu interestfurmuia thatthere are 5 variabies Given any4 ufthem m quot and ui e iui iugarithmi and Expunentiai Equatiuns Exercise1 46ulaPTFind the amount that results from 5000 invested at 7 compounded daily after a period of 4 years 5 non v 555 I107 4 O 5 0001 O 50001 007 i 460 365 Exercise 2 3946u1bPTIf an investment pays 11 compounded semiannually how much should you deposit now to have 1700 in twelve years nun 011000 7 O 17001 l 700 O Hm 2 I ma Exercise 3 4l6l2cPTlIow long will it lake money in double if it is invested at 3 compounded annually 439 O nio 3 I112 O 00 In 0 lul003 HI 0 mm W Exercise 4 46l20PTHow long will it take money to triple iiquot in is invested at 12 compounded semiannually O 2ii Exer ise 5 3946l2ePTWhat interest rate will take an initial investment of 5000 to 11000 in 9 years with annual compounding Oltgt 1 0 0019 1 1 O 1 7 Q Continuous Compounding in the umpuund interes i furmula A increases as n increases What happens in A as ngt w a new furmula M0404quot gtPe as new n Exercise 6 46l1cPTWhM is the amount in 5 years of 6000 invested at 106 compounded continuously o T squot23 O 6 00065393 6000 O c5 O 6 000603953 Exercise 7 3946l1dPTA note will pay 4765 at maturity in 5 years How much is Lhe nnie wotth now assuming cominunus Compounding at 98 O 4 7653 4755 0 New 0 4 705349 Exercise 8 3946l2bPTllow many years will it Lake or an investment of 20000 L0 grow to 50000 Assume a rate of interim Df 13 compounded continuously In O iniu Exercise 9 39462dPTWhaL interest rate compounded continuously will double an investment in 8 years In2 8 R 102 R In 00 O I Effective Rate We knDW trorh the prEViDuS torrhoias that the aetoai rate or retorh trorh eorhooohded or eohtihooosiy eorhooohded is usuaHy higher than the NOMINAL ahhoai rate doe to the s it We are osihg some higher Effect ot eorhooohdihg ACTUALEFFECTIVE ahhoai sirhoie rate Withoot eorhooohdihg in another Word he effective rate ot interest is the Equivaient ahhoai sirhoie rate ot interest that Wooid yieid the same amount as eorhooohdihg atter i year The Effective ahhoai rate r and the riorhiriai aririoai rate r i have the foiiovvirig reiatiori 13ml quot P139TI P1rr 139i quot71 n n Exercise 10 3946i2aPTFind the effective rate of inieresl for 15 compounded semi annually 0 10152 O 1 0152 1 O 1 92 52 1 O12
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