Exponential function - practice problems
Number of problems found: 88
- Double of principal
How long will it take for the principal to double at 12.25% annual interest?
- Finite geometric sequence
Find the remaining unknown characteristics in the finite geometric sequence, if given: a1 = 18, an = 13122, sn = 19674, n =?, q =?
Insert five numbers between 8 and 27 such numbers that, with two given ones, they form the first seven members of the geometric sequence.
Edmond Santos borrowed USD 20,000 for 18 months at 6 1/2 % per year. Find the APR (Annual Percentage Rate) if the loan was repaid monthly. The answer is: Note: APR is expressed as a percentage that represents the actual yearly cost of funds over the term
- Five years
Nakato Nobuki, a Japanese artist, wants to have $24,000.00 in his savings account at the end of five years. Mr. Nobuki deposits $1,500.00 annually into savings and has a balance of $8,000.00 today. What must the interest rate on the savings account be for
- Future value investment
Poseidon deposited 2,747 golden drachmas in a Mount Olympus college savings account to ensure Percy can go to college. It pays 0.04 (percent in decimal form) annual interest. After 11 years, he withdraws the money. How much more money would he have if the
- The town
The town population is 56000. It is decreasing by 2% every year. What will be the population of the town after 13 years?
- Maturity value
IKEA Furniture’s can purchase furniture with 3 year simple interest loan at 8% interest per year. What is the maturity value of 3500 loan?
- Saving for education
Suppose that a couple invested Php 50 000 in an account when their child was born, to prepare for the child's college education. If the average interest rate is 4.4% compounded annually, a, Give an exponential model for the situation b, Will the money be
- Suppose 2
Suppose that the half-life of a substance is 250 years. If there were initially 100 g of the substance, a. Give an exponential model for the situation b. How much will remain after 500 years?
- You take
You take out Php 20 000 loan at 5% interest rate. If the interest is compounded annually, a. Give an exponential model for the situation b. How much Will you owe after 10 years?
- Two years
Roy deposited 50,000.00 into his account paying 4% annual interest compounded semi annually. How much is the interest after 2 years?
- Annual interest
A loan of 10 000 euro is to be repaid in annual payments over 10 years. Assuming a fixed 10% annual interest rate compounded annually, calculate: (a) the amount of each annual repayment (b) the total interest paid.
- Annual growth
The population has grown from 25,000 to 33,600 in 10 years. Calculate what was the average annual population growth in%?
- How much 2
How much money would you need to deposit today at 5% annual interest compounded monthly to have $2000 in the account after 9 years?
- If you 4
If you deposit $2500 in an account paying 11% annual interest compounded quarterly, how long until there is the $4500 in the account?
- If you 3
If you deposit $4500 at 5% annual interest compound quarterly, how much money will be in the account after 10 years?
- If you 2
If you deposit $4000 into an account paying 9% annual interest compounded monthly, how long until there is $10000 in the account?
- Semiannually compound interest
If you deposit $5000 into an account paying 8.25% annual interest compounded semiannually, how long until there is $9350 in the account?
- Present value
A bank loans a family $90,000 at 4.5% annual interest rate to purchase a house. The family agrees to pay the loan off by making monthly payments over a 15 year period. How much should the monthly payment be in order to pay off the debt in 15 years?