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Answer Key 11.6

  1. [latex]\phantom{a}[/latex]
    1. [latex]A=\text{find}\hspace{0.25in} P=\$500\hspace{0.25in} r=0.04\hspace{0.25in} n=1 \hspace{0.25in} t=10[/latex]
      [latex]\begin{array}[t]{rrl} A&=&500\left(1+\dfrac{0.04}{1}\right)^{10} \\ \\ A&=&500(1.04)^{10} \\ \\ A&=&\$740.12 \end{array}[/latex]
    2. [latex]A=\text{find}\hspace{0.25in} P=\$600\hspace{0.25in} r=0.06\hspace{0.25in} n=1 \hspace{0.25in} t=6[/latex]
      [latex]\begin{array}[t]{rrl} A&=&600\left(1+\dfrac{0.06}{1}\right)^6 \\ \\ A&=&600(1.06)^6 \\ \\ A&=&\$851.11 \end{array}[/latex]
    3. [latex]A=\text{find}\hspace{0.25in} P=\$750\hspace{0.25in} r=0.03\hspace{0.25in} n=1 \hspace{0.25in} t=8[/latex]
      [latex]\begin{array}[t]{rrl} A&=&750\left(1+\dfrac{0.03}{1}\right)^8 \\ \\ A&=&750(1.03)^8 \\ \\ A&=&\$950.08 \end{array}[/latex]
    4. [latex]A=\text{find}\hspace{0.25in} P=\$1500\hspace{0.25in} r=0.04\hspace{0.25in} n=2 \hspace{0.25in} t=7[/latex]
      [latex]\begin{array}[t]{rrl} A&=&1500\left(1+\dfrac{0.04}{2}\right)^{14} \\ \\ A&=&1500(1.02)^{14} \\ \\ A&=&\$1979.22 \end{array}[/latex]
    5. [latex]A=\text{find}\hspace{0.25in} P=\$900\hspace{0.25in} r=0.06\hspace{0.25in} n=2 \hspace{0.25in} t=5[/latex]
      [latex]\begin{array}[t]{rrl} A&=&900\left(1+\dfrac{0.06}{2}\right)^{10} \\ \\ A&=&900(1.03)^{10} \\ \\ A&=&\$1209.52 \end{array}[/latex]
    6. [latex]A=\text{find}\hspace{0.25in} P=\$950\hspace{0.25in} r=0.04\hspace{0.25in} n=2 \hspace{0.25in} t=12[/latex]
      [latex]\begin{array}[t]{rrl} A&=&950\left(1+\dfrac{0.04}{2}\right)^{24} \\ \\ A&=&950(1.02)^{24} \\ \\ A&=&\$1528.02 \end{array}[/latex]
    7. [latex]A=\text{find}\hspace{0.25in} P=\$2000\hspace{0.25in} r=0.05\hspace{0.25in} n=4 \hspace{0.25in} t=6[/latex]
      [latex]\begin{array}[t]{rrl} A&=&2000\left(1+\dfrac{0.05}{4}\right)^{24} \\ \\ A&=&2000(1.0125)^{24} \\ \\ A&=&\$2694.70 \end{array}[/latex]
    8. [latex]A=\text{find}\hspace{0.25in} P=\$2250\hspace{0.25in} r=0.04\hspace{0.25in} n=4 \hspace{0.25in} t=9[/latex]
      [latex]\begin{array}[t]{rrl} A&=&2250\left(1+\dfrac{0.04}{4}\right)^{36} \\ \\ A&=&2250(1.01)^{36} \\ \\ A&=&\$3219.23 \end{array}[/latex]
    9. [latex]A=\text{find}\hspace{0.25in} P=\$3500\hspace{0.25in} r=0.06\hspace{0.25in} n=4 \hspace{0.25in} t=12[/latex]
      [latex]\begin{array}[t]{rrl} A&=&3500\left(1+\dfrac{0.06}{4}\right)^{48} \\ \\ A&=&3500(1.015)^{48} \\ \\ A&=&\$7152.17 \end{array}[/latex]
  2. [latex]A=\$10,000\left(1+\dfrac{0.04}{4}\right)^{40}[/latex]
    [latex]\begin{array}[t]{rrl} A&=&\$10,000(1.01)^{40} \\ \\ A&=&\$14,888.64 \end{array}[/latex]
  3. [latex]A=\$27,500\left(1+\dfrac{0.06}{12}\right)^{12(9)}[/latex]
    [latex]\begin{array}[t]{rrl} A&=&\$27,500(1.005)^{108} \\ \\ A&=&\$47,126.74 \end{array}[/latex]
  4. [latex]A=\$55,000\left(1+\dfrac{0.10}{12}\right)^{18}[/latex]
    [latex]\begin{array}[t]{rrl} A&=&\$55,000(1.008\bar{3})^{18} \\ \\ A&=&\$63,861.18 \end{array}[/latex]
  5. [latex]\$20,000=P\left(1+\dfrac{0.06}{2}\right)^{10}[/latex]
    [latex]\begin{array}[t]{rrl} P&=&\dfrac{\$20,000}{(1.03)^{10}} \\ \\ P&=&\$14,881.88 \end{array}[/latex]
  6. [latex]\$4200=P\left(1+\dfrac{0.04}{4}\right)^{4(5)}[/latex]
    [latex]\begin{array}[t]{rrl} P&=&\dfrac{\$4200}{(1.01)^{20}} \\ \\ P&=&\$3442.09 \end{array}[/latex]

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