How to find compound interest
[PDF File]Work Sample Bailey - ARC
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Work Sample Bailey Simple and Compound Interest 1. Find the simple interest earned on $6000 at 12% pa for 5 years. 2. A new car, valued at $28000, depreciates at 9% pa. Find the value of the car 3 years after purchase. that depreciation . 3. (a) Using the compound interest formula, find …
[PDF File]SIMPLE AND COMPOUND INTEREST
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Simple & Compound Interest Study Material 5 Subash purchased a refrigerator on the terms that he is required to pay `1,500 cash down payment followed by `1,020 at the end of first year, `1,003 at the end of second year and `990 at the end of third year.
[PDF File]Solving Compound Interest Problems
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compound interest formula and solve for the missing variable. The method used to solve the problem will depend on what we are trying to find. If we are solving for the time, t, then we will need to use logarithms because the compound interest formula is an exponential equation …
[PDF File]Applications of the compound interest formula
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Applications of the compound interest formula Quite often, three of the variables used in the compound interest formula are known and the fourth needs to be found. Finding P Finding i (interest rate per period) Aunt Freda leaves Thelma a legacy—some deposit stock that was invested for ten years at 11% p.a. compounded quarterly. The value of ...
[PDF File]COMPOUNDINTERESTTABLES
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Compound Present Sinking Capital Compound Present Gradient Gradient Amount Worth Fund Recovery Amount Worth Uniform Present Factor Factor Factor Factor Factor Factor Series Worth Find F Find P Find A Find A Find F Find P Find A Find P GivenP GivenF GivenF GivenP GivenA GivenA GivenG GivenG n F/P P/F A/F A/P F/A P/A A/G P/G n 1 1.005.9950 1.0000 ...
[PDF File]Simple and Compound Interest
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Simple and Compound 8 Interest Interest is the fee paid for borrowed money. We receive interest when we let others use our money (for example, by depositing money in a savings account or making a loan).
[PDF File]Functions - Compound Interest
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Functions - Compound Interest Objective: Calculate final account balances using the formulas for com-pound and continuous interest. An application of exponential functions is compound interest. When money is invested in an account (or given out on loan) a certain amount is added to the balance. This money added to the balance is called ...
[PDF File]COMPOUND INTEREST - Just Maths
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Q2. Tess invested £5000 at 4% compound interest for five years. How much was the investment worth after five years? (3 Marks) Q3. Sian invests £7000 for 3 years at 4% per annum compound interest. Find the compound interest earned in the 3 years. (4 Marks) Q4. Jaspal invests ￡2500 for 2 years at 7% per annum compound interest.
[PDF File]Compound interest on TI Nspire - Math Exams
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COMPOUND INTEREST 1 100 r kn FV PV k( ) §· ¨¸ ©¹ FV = future value PV = present value r = interest rate n = the number of years k = the number of compounding periods per year Example 1 Pauline invests $6000 in a bank offering 4% interest compounded annually. a) Calculate the amount of …
[PDF File]Use simple interest to find the ending balance.
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Find the total value of the investment after the time given. 11) $7,300 at 7% compounded semiannually for 3 years 12) $1,030 at 4% compounded semiannually for 2 years 13) $18,000 at 9% compounded semiannually for 6 years 14) $1,500 at 7% compounded annually for 3 years 15) $1,240 at 8% compounded annually for 2 years 16) $55,000 at 16% compounded
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