Math 71
Supplement
91509
Suppose a person invest $P in an account that earns 100r % in (annual) interest
compounded k times annually. Then after n time compounding period, the amount $A in
the account is given by
A
=
P
1+
i
(
)
n
, where
i
=
r
k
.
1.
Suppose a person invest $1,234 in an account that earns in interest 3.2%
compounded annually in interest. How much will this person have after 76
months?
2.
Suppose a person invest $1,234 in an account that earns in interest 3.2%
compounded semiannually in interest. How much will this person have after 76
months?
3.
Suppose a person invest $1,234 in an account that earns in interest 3.2%
compounded quarterly in interest. How much will this person have after 76
months?
4.
Suppose a person invest $1,234 in an account that earns in interest 3.2%
compounded monthly in interest. How much will this person have after 76
months?
5.
Suppose a person invest $1,234 in an account that earns compounded monthly
interest. After 70 month, she has $1,500. What is the interest rate of the account?
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 '10
 Katsuura,Hidefumi
 Math, $1,500, $2,000, 3.2%, $1,234, 70 month

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