Section 4.2 Applications Exponential Growth Decay

University:
University of North Georgia
Course:
MATH 1113 | Precalculus
Academic year:

2021
Views:

225

Pages:

5
Author:

Medonosh0

Advanced Math Section 4.2 Applications Exponential Growth/Decay Exponential Growth (Annually) Exponential Decay (Annually) Continuous Compounding Interest Formula Compound Interest Formula Compounding annually n = Compounding monthly n = Compounding quarterly n = Compounding daily n = For all of the application problems, show which formula you are using and how you are substituting the numbers into the equation. If it is necessary to isolate a variable, show those algebraic steps as well. Once the variable is isolated, you may use your calculator to complete all computations. 1. $1000 is invested at an annual interest rate of 10%. Find the balance after 2 years if the investment is compounded as follows: Daily Find the balance after 4 years on $800 invested at an annual rate of 6% compounded continuously.