Answer Key 11.6

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

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Intermediate Algebra by Terrance Berg is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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