Math 1 · Unit 8 · Lesson 3 · part 4 of 4
Practice Problems
Try them, get help one step at a time, then print how it went.
Practice: fill in each piece, in order
Find the rate per period, the number of periods, then the balance. Hint names the next piece and the calculator order, Show next step shows one worked step at a time, Reveal answer checks, and Hide help / start over clears the card. Divide r by n, add 1, raise to the power, then times P. Round to the cent only at the end.
My results
Finished the practice? Print a page that shows each question, what you typed or chose, the correct answer, and how it went. Good for showing a teacher or keeping in a folder.
Exit ticket
On paper or an index card. Use the math word and the plain-English word.
- 4.8% a year compounded monthly for 3 years: the rate per period and the number of periods.
- In P(1 + rn)nt, what do the parentheses mean as one quantity? The exponent?
- $800 at 5% compounded quarterly for 1 year, to the cent.
- Does daily compounding earn much more than monthly? Why?
Check your exit ticket
- 0.04812 = 0.004 each month; 12 × 3 = 36 periods.
- The growth factor for one period; how many periods have passed.
- 800(1.0125)4 = 800 × 1.0509453 = $840.76.
- No, only a little: the yearly rate is the same, just split smaller. Interest starts earning sooner, but on tiny amounts.