Math 115 finance review notes, Study notes of Mathematics

Math 115 finance review notes Finance Review Show work using the finance formulas provided in the course pack.

Typology: Study notes

2023/2024

Uploaded on 12/09/2024

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® MATH 115 Finance Review Show work using the finance formulas provided in the course pack. 1. Find the future value of a $10,000 investment after 8 years if it is deposited into an account earning 1.25% interest compounded quarterly. 0.0125 ar A- P(a+e P=(0,000 j C= 0.0125 / C 29 5 0 > \ A432 4-8 A= 10,000 9% = £1)044.99 n= 4 2. Maria invests $1200 in a certificate of deposit at her bank. Interest is compounded quarterly, and the interest rate is 3.5%. 0,035 a) Find the future value after 7 years. P- nes ae t= —s of Ap @ n= 4 A- b) How much interest does Maria earn on her investment? 6 ISaI Sl ~ 2 oO srevest | 3. The future value of a 4-month loan of $3000 is $3097. Find the simple annual interest rate. =Prt A= 30% A= PHP \ ZOO] = Sbo00 + O00 (* (3) ~ 4900 3A] = 20007 (4) -%