Interest rate-compounded continuously


1) What interest rate, compounded continuously, would allow $800 to grow to $1040.14 in three years.?

2) The Harrison are buying a new house. Their mortgage is for $360,000 with 360 monthly payments. Their interest rate is .354% per month. Their monthly payment is $1770.56. Construct an amortization chart showing the first three months' activity. Include the payment number, the amount of the payment, the amount going to interest, the amount going towards principal, and the balance after the payment.

3) Construct a Venn diagram and shade the part representing (A' intersect B) U C.

4) 60 shoppers. 33 purchased apples, 14 purchased plums, 16 purchased bananas, 5 purchased apples and plums, 4 purchased plums and bananas, 6 purchased bananas and apples, 3 purchased all three fruits.

a) How many shoppers purchased only plums?

b) How many shoppers purchased apples or bananas but not plums?

c) How many shoppers did not buy any of these fruits?

5) A state license plates are made up of three numbers followed by three letters. How many plates can the state issue that start with 4 or 5 and end with an H and there are no repetitions of numbers or letters?

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Accounting Basics: Interest rate-compounded continuously
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