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Kristina Merkes Amanda Zager Alysha Wolosek Hour 3

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3.6

Financial

Problems

Kristina Merkes

Amanda Zager

Alysha Wolosek

Hour 3

http://www.youtube.com/watch?v=kFyDWNlQzT4&feature=player_detailpage#t=0s

3.6 NOTES

EXCITING TOPICS:

Compounding interest annually

Compounding interest continuously

EXAMPLES!!!

Interest Compounded "k" times per year

P= amount invested (principal amount)

r = rate (as a decimal)

n= number of times per year it is compounded

t = number of years

A= amount in account after "t" years

Interest Compounded Continuously

P= amount invested

r = rate (as a decimal)

t = number of years

A= amount in account after "t" years

EXAMPLES :)

Find the amount A compounded annually

using the given informationP= $3200 r = 8%n = 1 t = 4

MORE EXAMPLES!

Find the amount A compounded annually

using the given information

P= $15,500 r = 9.5%n = 1 t = 12

15,500

GUESS WHAT? EXAMPLES!!

Find the amount A, compounded continuously,

using the given informationP= $3,350 r = 6.2% t = 8

LAST BUT NOT LEAST... EXAMPLES!

Find the amount A, compounded continuously,

using the given information

P= $8,875 r = 4.4% t = 25

WORD PROBLEMS!! YAY!!!

If Amanda invests $8,000 into a dream vacation account to

Madagascar to see the meerkats, with a 9% interest rate

compounded monthly, how long will it take until this single payment has grown in her account to $16,000?

P = 8,000 r = 9% A= 16,000 t = ?

MORE WORD PROBLEMS!!

At what interest rate, compounded continuously, would

$3000 grow to $300,000 in 25 years?

P= $3000r = ?t = 25A=$300,000

http://www.neatorama.com/2006/07/21/funnymath-answers/

http://favim.com/image/346582/

http://qrc.depaul.edu/StudyGuide2009/Notes/Savigs%20Accounts/Compound%20Interest.htm

http://www.hannytech.com/wallpapers/math_backrounds_for_powerpoint-wallpapers

http://mrspedtechtalk.blogspot.com/2012/06/bit-ofhumor-inspiration.html

http://blog.timesunion.com/opinion/mathcurriculu-abstract-misguided/14155/math-background/

Mrs. Barber’s website

Pre-calculus textbook

http://www2.bc.cc.ca.us/resperic/mathb1a/GrowthAndDecay.pdf

http://cs.selu.edu/~rbyrd/math/continuous/con_sol3html

http://web-design.lovetoknow.com/Math_Web_Page_Backgrounds