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Algebra 4.1 & 4.2

1) Julio deposited $9,000 into a college trust fund where the interest is 6.6% compounded semiannually. Find the amount in the account after 10 years. Round to the nearest dollar.

2) On Renee's 11th birthday, her aunt presents her with a $3,000 investment that earns 5% interest compounded quarterly. Determine how much will be in the account when it matures on her 21st birthday. Round to the nearest dollar.

3) The half-life of a radioactive element is 6.6 hours. How much of a 360 mg sample is left after 26.4 hours?

4) The accumulated amount of an investment after 6 years is $4,200. Determine how much was invested if the account had an annual percentage rate of 4% compounded monthly. Round your answer to the nearest dollar.

5) Which of the following functions could be used to represent a population which grows 2% each year from an initial population of 900?
a) P=900(2)^t
b) P=900(.02)^t
c) P=900(1.2)^t
d) P=900(1.02)^t
e) P=900(.2)^t

Solution Summary

The Correct Answers are provided.