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Exponent and Logarithm Applications
(Answer ID # 0747887)
Complete

1.   Brad invested $2,400 in a three year CD that pays four percent componded annually. What is the compound interest and amount that will be in the bank after three years?	2.   Amy invested $5,600 in a five year CD that pays eight percent componded quarterly. What is the compound interest and amount that will be in the bank after five years?
3.   Paul borrowed $90 from Greg eight months ago. Today, Paul paid Greg back $102.60. What is the simple annual interest rate that Paul paid?	4.   Brad has a government bond that will be worth $10,588.13 in seven years. The bond has an interest rate of 6% that is compounded semiannually. What is the present value of the bond?

 

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Answer Key

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Sample
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