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Compound Interest example problem

Suppose you make a deposit of \$8,000 in the bank account that earns you 5.5% interest. Assuming that you are not withdrawing any funds, find the amount, in dollars, that will be in your bank account 1 year from the date of your initial deposit if

a)  Interest is compounded daily

b)  Interest is compounded monthly

c)  Interest is compounded quarterly

d)  Interest is compounded continuously

Solution to this Compound Interest practice problem is given in the video below!

TRY IT YOURSELF example question

On January 1, 2021 you borrow a \$15,000 loan from the bank with a 7.5% accrued interest. If you do not plan on making any payments during the loan period, find the total balance of your loan, in dollars, that you will owe to the bank on January 1, 2022 for

a)  Daily compounded interest

b)  Weekly compounded interest

c)  Monthly compounded interest

d)  Quarterly compounded interest

e)  Semi-annually compounded interest

f)  Continuously compounded interest

Daily compounded loan balance: \$16,168

Weekly compounded loan balance: \$16,167

Monthly compounded loan balance: \$16,164

Quarterly compounded loan balance: \$16,157

Semi-annually compounded loan balance: \$16,146

Continuously compounded loan balance: \$16,168

Linear Quadratic Exponential Equation Comparison from Table of Ordered Pairs example question

Determine whether the given set of ordered pairs (x, y) below follows a Linear, Quadratic or Exponential Equation such as

Then, find the missing constants in that Equation.

(x, y)

(3, 81)

(4, 144)

(5, 225)

(6, 324)

(7, 441)

Solution to this Table of Values Linear Quadratic Exponential Equation practice problem is given in the video below!

Linear Quadratic Exponential Equation Comparison from Table of Ordered Pairs example problem

Given the set of ordered pairs (x, y) below determine whether the Graph shows a Linear, Quadratic or Exponential Equation such as

Then, find the missing constants in that Equation.

(x, y)

(1, -3)

(2, -9)

(3, -27)

(5, -243)

Solution to this Table of Values Linear Quadratic Exponential Equation practice problem is given in the video below!

Exponential Equations example question

Solve the following Exponential Equation:

Solution to this Exponential Equation practice problem is provided in the video below!

Exponential Equation example problem

Solve the Exponential Equation provided below:

Solution to this Exponential Equation practice problem is provided in the video below!

Exponential Equations example

Find solutions to the given Exponential Equation:

Solution to this Exponential Equation practice problem is provided in the video below!