Time for a Warm-Up! Get out a sheet of paper for a short opener. You will have 2-3 minutes for each problem!

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Presentation transcript:

Time for a Warm-Up! Get out a sheet of paper for a short opener. You will have 2-3 minutes for each problem!

Problem 1

Problem 2 Mr. Frees has $5000 to invest in an account. He wants to double his money in 10 years using a bank that offers interest compounded quarterly. What interest rate would he have to get to make this happen?

Problem 3 Mrs. Saller invests $1200 into an account that has an annual interest rate of 2.8% compounded continuously. How much will be in the account after 7 years?

You’re done!!!  You may now check your answers with your partner!