Review 3B: Modeling Functions and Fundamentals of Statistics

If you are compounding monthly over 3 years, how many times do you compound?

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CCSS.HSF.LE.A.2

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CCSS.HSF.LE.B.5

If you are compounding daily for 3 years, how many times do you compound?

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CCSS.HSF.LE.A.2

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CCSS.HSN.Q.A.1

If Alana has a loan balance of $12,000 that is compounded monthly at a rate of 4.5%.  Assuming that she makes no payments on the account, what will her balance be in 4 years?

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CCSS.HSF-LE.A.1C

P = $5000

r = 6.25%

Compounded daily for 5 years

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CCSS.HSF.BF.A.1

CCSS.HSF.BF.B.5

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CCSS.HSF.LE.A.2

CCSS.HSF.LE.A.3

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Carmine takes a loan for $11,500 at a rate of 8% that is compounded quarterly.  Assuming she makes no payments for the first 2 years, what is her loan balance?

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CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

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CCSS.HSF.LE.B.5

Shawn knows that his student loan interest is calculated at a rate of 0.35% per month.

What is Shawn's APR?

Give your answer to the nearest hundredth of a percent.

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.3

Shawn knows that his student loan interest is calculated at a rate of 0.35% per month.

What is Shawn's APY?

Give your answer to the nearest hundredth of a percent.

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CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.A.3

P = $8,500
r = 3.175%
Compounded monthly for 10 years

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CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

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CCSS.HSF.LE.A.3

P = $275
r = 6.25%
Compounded daily for 20 years

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CCSS.HSF.BF.B.5

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.A.3

CCSS.HSF.LE.A.4

Marko has a credit card balance of $875 that is compounded daily at an annual percentage rate (APR) of 19.62%. If he makes no payments, what will his balance be in 2 years?

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CCSS.HSF-LE.A.1C