15. Q15
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Similar Question 1
<p>$100 is put into a bank account that pays interest so that the amount in the account grows according to the expression 100(1.06)n, where n is the number of years. Find the amount in the account after</p><p>a) 5 years </p><p>b) 10 years</p>
Similar Question 2
<p>For each compounding condition, determine the interest rate per compounding period, expressed as a decimal.</p><p><code class='latex inline'>\displaystyle 7 \% </code> per year, compounded monthly</p>
Similar Question 3
<p>For each compounding condition, determine the interest rate per compounding period, expressed as a decimal.</p><p><code class='latex inline'>\displaystyle 8 \% </code> annual interest, compounded semi-annually</p>
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Learning Path
L1 Quick Intro to Factoring Trinomial with Leading a
L2 Introduction to Factoring ax^2+bx+c
L3 Factoring ax^2+bx+c, ex1
Now You Try
<p>Determine the total number, <code class='latex inline'>\displaystyle n </code>, of compounding periods and the interest rate, <code class='latex inline'>\displaystyle i </code>, as a decimal, per compounding period for each scenario.</p><p><code class='latex inline'>\displaystyle 7 \% </code> per annum, compounded quarterly for 5 years</p>
<p>For each compounding condition, determine the number of compounding periods.</p><p>quarterly compounding for 4 years</p>
<p>Determine the total number, <code class='latex inline'>\displaystyle n </code>, of compounding periods and the interest rate, <code class='latex inline'>\displaystyle i </code>, as a decimal, per compounding period for each scenario.</p><p><code class='latex inline'>\displaystyle 8.5 \% </code> per year, compounded annually for 4 years</p>
<p>For each compounding condition, determine the interest rate per compounding period, expressed as a decimal.</p><p><code class='latex inline'>\displaystyle 9 \% </code> per annum, compounded quarterly</p>
<p>For each compounding condition, determine the number of compounding periods.</p><p>semi-annual compounding for 5 years</p>
<p>Determine the total number, <code class='latex inline'>\displaystyle n </code>, of compounding periods and the interest rate, <code class='latex inline'>\displaystyle i </code>, as a decimal, per compounding period for each scenario.</p><p><code class='latex inline'>\displaystyle 6.2 \% </code> per year, compounded daily for 2 years</p>
<p>Determine the total number, <code class='latex inline'>\displaystyle n </code>, of compounding periods and the interest rate, <code class='latex inline'>\displaystyle i </code>, as a decimal, per compounding period for each scenario.</p><p><code class='latex inline'>\displaystyle 3.6 \% </code> per year, compounded monthly for 3 years</p>
<p>$100 is put into a bank account that pays interest so that the amount in the account grows according to the expression 100(1.06)n, where n is the number of years. Find the amount in the account after</p><p>a) 5 years </p><p>b) 10 years</p>
<p>For each compounding condition, determine the number of compounding periods.</p><p>annual compounding for 7 years</p>
<p><code class='latex inline'>\displaystyle \$ 650 </code> is invested for 7 years at <code class='latex inline'>\displaystyle 5 \% </code> interest per year, compounded annually.</p><p>a) Determine the amount in the account after 7 years.</p><p>b) How much interest was earned?</p>
<p>For each compounding condition, determine the interest rate per compounding period, expressed as a decimal.</p><p><code class='latex inline'>\displaystyle 7 \% </code> per year, compounded monthly</p>
<p>For each compounding condition, determine the interest rate per compounding period, expressed as a decimal.</p><p><code class='latex inline'>\displaystyle 8 \% </code> annual interest, compounded semi-annually</p>
<p>Determine the present value of each future amount for the given conditions.</p><p>In 4 years, an investment eaming 6% per year, compounded annually, will have a value of 5800. Find the present value.</p>
<p>For each compounding condition, determine the interest rate per compounding period, expressed as a decimal.</p><p><code class='latex inline'>\displaystyle 11 \% </code> per year, compounded bi-weekly</p>
<p>Determine the total number, <code class='latex inline'>\displaystyle n </code>, of compounding periods and the interest rate, <code class='latex inline'>\displaystyle i </code>, as a decimal, per compounding period for each scenario.</p><p>5.5\% per annum, compounded semi-annually for <code class='latex inline'>\displaystyle 6.5 </code> years</p>
<p>For each compounding condition, determine the number of compounding periods.</p><p>daily compounding for 3 weeks</p>
<p>For each compounding condition, determine the number of compounding periods.</p><p>monthly compounding for <code class='latex inline'>\displaystyle \frac{2}{3} </code> of a year</p>
<p>Wes borrows <code class='latex inline'>\displaystyle \$ 850 </code> at a rate of <code class='latex inline'>\displaystyle 9.5 \% </code> interest per year, compounded annually, for 4 years.</p><p>a) Determine the amount to be repaid after 4 years.</p><p>b) How much interest will Wes have to pay?</p>
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