Math 110 Exam 1 With Questions and Correct Answers

Math 110 Exam 1

A=Pe^rt - Answers -Compounded continuously

A=P(1+r/m)^mt - Answers -Compound Interest

A=P(1+rt) - Answers -simple interest

A=PMT(((1+r/m)^mt-1)/(r/m)) - Answers -Payments to save money up

total return - Answers -(A/P)^1/y-1

A=PMT((1-(1+(r/m)^-mt)/(r/m)) - Answers -Paying money off

(new-old)/old - Answers -percent change

1x+rx=total tax - Answers -calculating taxes

CPI (Consumer Price Index) - Answers -(old/new)today's price=price in past dollars

"compounded continuously" - Answers -A=Pe^rt

"compounded monthly" - Answers -A=P(1+(r/m))^mt

"simple interest rate" - Answers -A=P(1+rt)

"How much should you invest each month..." - Answers -A=PMT((1+(r/m)^mt-1)/(r/m))

"How much money should you invest now at r% compounded quarterly..." - Answers -
A=P(1+(r/m))^mt

How long will it take to double an investment if it's placed in an account maying r%
compounded quarterly..." - Answers -A=P(1+(r/m))^mt

Suppose you buy a car and finance $x. If the interest rate is r% and you do a y year
loan, what will your monthly payments be? - Answers -A=PMT(1-(1+(r/m))^-mt/(r/m))