Algebra 1 - Find Work HERE!

ALL is due by the end of class! Tomorrow you will have a quiz over the Google Slides that we did last week, so make sure you have completely finished.

Go write this again in your journal on the next clean page ⇓⇓. Title it Compound Interest Formula:

Go to your journal where you taped in the Inheritance amount and the Bank Options from last class!

If you haven't finished working out the two options, then do so now.
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Now put the answers to the following questions in your journal. Title this page: Compound Interest Analysis

1. How much money did you inherit? ______

2. How many years are you investing? ____

3. How many times are you compounding in option 1?_______ option 2? ________

4. What is your rate in % form and decimal form for option 1? ____ and ______
for option 2? ____ and ____

5. Look at your first formula. Your exponent should be the n times the t. What did you get? _____

6. Look at your 2nd formula for option 2. What did you get as your exponent? ______

7. Are both of your answers for both options more than the amount you inherited? ______

8. Should they be more and why?

9. Which option was better and why do you think so?

Write this ⇓⇓ in your journal: (For compounding)

Annually - 1 time a year
Semi-annually - 2 times a year
daily - 365 times a year
weekly - 52 times a year
monthly - 12 times a year
quarterly - 4 times a year

Last thing!
Go to joinmyquiz.com and type the code:

231405