CC Alg I- Lamonte Peterson
Wednesday, April 2, 2014
Monday, March 31, 2014
Monday, February 17, 2014
Compound Interest Formula
P= principal
amount (the initial amount you borrow or deposit)
r = annual
rate of interest (as a decimal)
t = number
of years the amount is deposited or borrowed for.
A = amount
of money accumulated after n years, including interest.
n = number
of times the interest is compounded per year
t in month= 12
t in day= 365
t in weeks=52
t in quarterly= 4
|
An amount of $1,500.00 is
deposited in a bank paying an annual interest rate of 4.3%, compounded quarterly.
What is the balance after 6 years?
|
P =
1500, r =
4.3/100 = 0.043, n = 4, t = 6
Tuesday, January 28, 2014
General forms of a sequence
Arithmetic---the same number is added or
subtracted from each element to get the next element in the sequence.
Examples---
3,7,11,15,19
Formula--- an
= a1 + (n – 1)d
Geometric----
the same number is multiplied or divided by each element to get the next
element in the sequence.
Examples----2,
6, 18, 54
Formula---
an = a1 .
r(n - 1)
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