Compound Interest Pr Directions: Use the formula A- PI+" where A represents the total amount, P represents the principal, r represents the Interest rate as a decimal, n represents the number of times per year interest is compounded, and f represents the time in years to answer the questions below. 1) A coin had a value of SI.17 in 1995. Its value has been increasing at 9% per year. What is the value after 5 years? 2) Gina deposited $1500 in an account that pays 4% interest compounded quarterly. What will the balance be in 2 years? 3) The Garcias have $12,000 in a savings account. The bank pays 3.5% interest on savings accounts, compounded monthly. Find the total balance after three years. 4) Determine the amount of interest carned on a $2500 investment if it is invested at 5.25% annual interest compounded monthly for four years. 5) Determine the amount of interest carmed on a $100,000 investment if it is invested at 5.2% annual interest compounded quarterly for 12 years.
Compound Interest Pr Directions: Use the formula A- PI+" where A represents the total amount, P represents the principal, r represents the Interest rate as a decimal, n represents the number of times per year interest is compounded, and f represents the time in years to answer the questions below. 1) A coin had a value of SI.17 in 1995. Its value has been increasing at 9% per year. What is the value after 5 years? 2) Gina deposited $1500 in an account that pays 4% interest compounded quarterly. What will the balance be in 2 years? 3) The Garcias have $12,000 in a savings account. The bank pays 3.5% interest on savings accounts, compounded monthly. Find the total balance after three years. 4) Determine the amount of interest carned on a $2500 investment if it is invested at 5.25% annual interest compounded monthly for four years. 5) Determine the amount of interest carmed on a $100,000 investment if it is invested at 5.2% annual interest compounded quarterly for 12 years.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.8: Transforming Exponential Expressions
Problem 18PFA
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Transcribed Image Text:Compound Interest Practice Worksheet
Directions: Use the formula A= P(I+" where A represents the total amount, P
represents the principal, r represents the interest rate as a decimal, n represents the
number of times per year interest is compounded, and r represents the time In years
to answer the questions below.
1) A coin had a value of S1.17 in 1995. Its value has been increasing at 9% per year.
What is the value after 5 years?
2) Gina deposited $1500 in an account that pays 4% interest compounded quarterly.
What will the balance be in 2 years?
3) The Garcias have S12,000 in a savings account. The bank pays 3.5% interest on
savings accounts, compounded monthly. Find the total balance after three years.
4) Determine the amount of interest carned on a $2500 investment if it is invested at
5.25% annual interest compounded monthly for four years.
5) Determine the amount of interest earned on a $100,000 investment if it is
invested at 5.2% annual interest compounded quarterly for 12 years.
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