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Math 115 finance review notes, Study notes of Mathematics

Kalamazoo Valley Community CollegeMathematics

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

angela-ray
angela-ray 🇺🇸

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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) -%