Practice 4.1 to 4.3

• Initial Amount

• Interest Rate

• Time in Years

• Number of compounding periods

• Initial Amount

• Interest Rate

• Time in Years

• Number of compounding periods

• Initial Amount

• Interest Rate

• Time in Years

• Number of compounding periods

Number of times interest is compounded (n) annually ​ (a)   time , weekly ​ (b)   times, quarterly ​ (c)   times, and monthly ​ ​ (d)   times.

• 1
• 52
• 4
• 12
• 3
• 24
• 26
• 10

Write an equation to determine the balance after 15 years

in an account that had an initial investment of $3,000

at 6.5% interest compounded monthly.

Determine the balance after 15 years

in an account that had an initial investment of $3,000

at 6.5% interest compounded monthly.

• $3,253.21

• $7,932.60

• $3,471.09

• $48,013.73

Write an equation to determine the balance after 20 years

in an account that had an initial investment of $750

at 5.75% interest compounded weekly.

Determine the balance after 20 years

in an account that had an initial investment of $750

at 5.75% interest compounded weekly.

• $2367.14

• $2349.33

• $15887.27

• $2500

Write an equation to determine the balance after 10 years

in an account that had an initial investment of $4,000

at 2.85% interest compounded annually.

Determine the balance after 10 years

in an account that had an initial investment of $4,000

at 2.85% interest compounded annually.

• $5308.36

• $5297.89

• $5319.05

• $5200