5_7 - Chapter 5 Exponential and Logarithmic Functions 5.7...

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Chapter 5 719 Exponential and Logarithmic Functions 5.7 Compound Interest 1. P = $500, r = 0.06, t = 6 months = 0.5 year I = Prt = 500 ( 29 0.06 ( 29 0.5 ( 29 = $15.00 2. P = $5000, t = 9 months = 0.75 year, I = $500 500 = 5000 r 0 . 75 ( 29 500 5000 ( 29 0.75 ( 29 = r r = 0.13 3 The per annum interest rate was approximately 13.33%. 3. P = $100, r = 0.04, n = 4, t = 2 A = P 1 + r n nt = 100 1 + 0.04 4 (4)(2) = $108.29 4. P = $50, r = 0.06, n = 12, t = 3 A = P 1 + r n nt = 50 1 + 0.06 12 (12)(3) = $59.83 5. P = $500, r = 0.08, n = 4, t = 2.5 A = P 1 + r n nt = 500 1 + 0.08 4 (4)(2.5) = $609.50 6. P = $300, r = 0.12, n = 12, t = 1.5 A = P 1 + r n nt = 300 1 + 0.12 12 (12)(1.5) = $358.84 7. P = $600, r = 0.05, n = 365, t = 3 A = P 1 + r n nt = 600 1 + 0.05 365 (365)(3) = $697.09 8. P = $700, r = 0.06, n = 365, t = 2 A = P 1 + r n nt = 700 1 + 0.06 365 (365)(2) = $789.24
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Chapter 5 Exponential and Logarithmic Functions 720 9. P = $10, r = 0.11, t = 2 10. P = $40, r = 0.07, t = 3 A = Pe rt = 40 e (0.07)(3) = $49.35 A = Pe rt = 10 e (0.11)(2) = $12.46 11. P = $100, r = 0.10, t = 2.25 12. P = $100, r = 0.12, t = 3.75 A = Pe rt = 100 e (0.10)(2.25) = $125.23 A = Pe rt = 100 e (0.12)(3.75) = $156.83 13. A = $100, r = 0.06, n = 12, t = 2 P = A 1 + r n - nt = 100 1 + 0.06 12 ( - 12)(2) = $88.72 14. A = $75, r = 0.08, n = 4, t = 3 P = A 1 + r n - nt = 75 1 + 0.08 4 ( - 4)(3) = $59.14 15. A = $1000, r = 0.06, n = 365, t = 2.5 P = A 1 + r n - nt = 1000 1 + 0.06 365 ( - 365)(2.5) = $860.72 16. A = $800, r = 0.07, n = 12, t = 3.5 P = A 1 + r n - nt = 800 1
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This homework help was uploaded on 04/07/2008 for the course MAC 1105 taught by Professor Any during the Spring '08 term at FIU.

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5_7 - Chapter 5 Exponential and Logarithmic Functions 5.7...

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