Math

1) Given A=P(1+I)^n a) If P=$1200, I=.005, and n=30 Solve for A $1,200(1.005)^30=1.1614 * 1,200=$1,393.68 b) If A=$5000, I=.0075, n=60 Solve for P $5,000=P(1.0075)^60= 1.565681P=5,000 $3,193.50=P 2) Given 2500=1000(1.06)^n Solve for n 2.5=1.06^n Check: 2,500=1,000(1.06)^15.71 In 2.5 = (n) In 1.06 2,500=1,000(2.49785518249) .916=.0583n 15.71=n 3) If you borrow $3000 at 14% simple interest for 10 months A = P(1+rt) a) How much will you owe in 10 months? $3,000(1.14)(5/6)) $3,000(1.117) $3,351 b) How much interest will you pay? $3,351-$3,000=$351 4) A acknowledgment card company charges 22% annual rate for delinquent greenbacks. How much interest will be owed on a $635 account one month overdue? I = Prt (635)(.22)(1/12)= 1/12=.083 $11.64 5) A loan of $2500 was repaid at the end of 10 months with a check for $2812.50. What annual rate of interest was supercharged? A = P(1+rt) $2,812.50=$2,500(1+.83r) $2,812.5=$2,500+$2,500(.

83r) $312.50=$2,500(.83r) $312.50=$2,075r .1506=r 15.06% Compound Interest A = P(1+I)^n 6) Grandparents deposited $6000 into a grandchilds account toward a college education. How much money will be in the account 17 years from now if the account earns 9% compounded monthly? .09/12=.0075 17*12=... If you want to get a full essay, order it on our website: Orderessay

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