1) Assume $900 is deposited in the bank account paying 7% interest per year, compounded 12 times per year. How much will be in bank account at end of ten years?
2) How much would the initial amount of $3000, compounded continuously at 7% annual interest, become after fifteen years?
3) Assume the colony of bacteria has the continuous growth rate of 24% per hour. By what percent will colony have grown after seven hours?
4) Assume that number of cell phones in world increases by the total of 160% over the 6 year period. Find continuous growth rate for number of cell phones in world?
5) How long it takes for money to triple if compounded continuously at 3% per year?