Math Central - mathcentral.uregina.ca
Quandaries & Queries
Q & Q
. .
topic card  



list of
. .
start over

39 items are filed under this topic.
Compound interest 2019-05-28
From Kenneth:

Is compound interest on $1.00 for one year the same as simple interest on $1.00 for one year?

Compound interest would be $1.01, and I believe the same amount would be the same at simple interest.

Answered by Penny Nom.
Hexagonal pyramid bevel angles 2016-09-30
From Peter:
I have seen your response to a similar question from Steve which Chris and Harley responded to, however I am not familiar with some of the terms. Is there a formula that I can enter my details in which will give me the specific angles I require. The item I am constructing is much larger than the one you responded to previously. Thank you for any assistance you are able to provide.
Answered by Penny Nom.
4 carpenters can build 8 houses in 10 days. 2016-04-05
From Kenneth:

Here is my question:

4 carpenters can build 8 houses in 10 days. 2 carpenters can build how many houses in 15 days?

Here is one solution:

The number of houses built is jointly proportional to the number of carpenters and the number of days. So h = kcd where k is a constant. Substituting the given: 8 = k*40, so k = 1/5. Our formula is then h = cd/5. I'm not sure how to determine whether or not one unit is jointly proportional to any other unit.

However, if 2 carpenters are unknown as in 4 carpenters can build 8 houses in 10 days. How many carpenters can build 6 houses in 15 days? What is the solution using this method? And likewise, if days are unknown, as in 4 carpenters can build 8 houses in 10 days. 2 carpenters can build 6 houses in how many days?

I thank you for your assistance.

Answered by Penny Nom.
An investment for 20 months 2015-01-12
From rose:
Darnell wants to have 2700$ to purchase a tv in 20 months. what will he need to deposit today if he earns 5% annual interest compounded monthly
Answered by Penny Nom.
Compound interest 2013-05-10
From Kyla:
I am doing correspondents and cannot figure out how to explain the solution to this question, I do not understand how they came to this answer and need it explained step by step so I can complete the following questions in this unit, please help!!! Calculating compound Interest

Johnny invest $800 that pays 8% compounded quarterly for 5 years. How much is the investment worth at the end of the 5th year?

Answered by Penny Nom.
25 billion dollars 2011-08-26
From Bill:
If you have $25billion dollars, what would the value of this amount become if you inflated it at 4% per year for 55 years?=C2=A0 My TVM calculator will not go this high.
Answered by Penny Nom.
A loan 2010-06-16
From melody:
LOAN: 1000
TERM: 2 years
INTEREST: 2% (per month)

what is he formula of solving this and what is the answer..

Answered by Robert Dawson.
Compound interest 2010-06-01
From Kenneth:
Hello: I have a question regarding the following compound interest and future value calculation.

Year 1 P + rP equals balance after the first year.
Year 2 (P + rP) + r(P + rP) equals balance after the second year.
Year 3 ? equals balance after the third year.

This question is in two parts.

1. What would follow for year three?

2. I know that a pattern will develop. What will it be so that I can determine the extended pattern for following years ?

Answered by Penny Nom.
Compound interest 2010-04-21
From Kenneth:
Let's say that an investor has $1000.00 to invest for 3 years at a rate of 5% at compound interest. Here is the formula:

M = 1000(1 + 0.05)^3 = $1157.62

If I want to change 1000(1 + 0.05) to (1000 + 0.05*1000) three times in a calculation instead of using (1 +0.05)^3, how would this be done?

I cannot get (1000 + 0.05*1000) + (1000 + 0.05*1000) + (1000 + 0.05*1000) to equal $1157.62.

I know that 1000(1.05)(1.05(1.05) will produce the answer, but I want to try to use the above non-factored calculation.

Answered by Penny Nom.
Compound interest 2010-02-27
From Allison:
Have $1000.00 in saving account compound annual interest rate 6% please calculate what it is worth 3 years, 5 years and 10 years?
Answered by Tyler Wood.
Saving for his daughter's education 2009-01-15
From George:
To save for his daughter’s university education at the end of each month Mr McLean sets aside £50 in a savings scheme paying 10% p.a. compounded monthly. He begins saving when his daughter is 3 years old. How much will he have saved by the time his daughter is 18?
Answered by Harley Weston.
Compound interest 2009-01-02
From maninder:
at what rate % compound interest per annum will be rs. 640 amount to rs. 774.40 in 2 years.
Answered by Penny Nom.
Interest compounded monthly 2008-12-13
From ameeta:
joanna invest 500 dollars. She received 6 percent interest compounded monthly. how much interest did she earn with this investment after 3 years. the answer i calculated out to be was 90 dollars but could you please show me the steps.
Answered by Robert Dawson and Penny Nom.
A 5% raise each year for 20 years 2008-09-13
From marie:
In his first year, a math teacher earned 32,000. Each successive year, he earned a 5% raise. How much did he earn in his 20th year? What were his total earnings over the 20-year period
Answered by Stephen La Rocque.
What is the account value after 3 years? 2008-07-10
From Carlos:
Question Suppose that you deposited $3,000 at the beginning of each year for three years in a savings account earning 4%. What is the account value after 3 years (approx)?
a. 9,120
b. 9,211
c. 9,739
d. 9,989

Answered by Penny Nom.
Interest compounded daily for 6 months 2008-06-18
From Cheryl:
Compounded interest daily on cd.....$1,000.00 at 2.53% for 6 months. How much will this CD earn?
Answered by Penny Nom.
Interest compounded daily 2008-05-23
From Jeanmarie:
Answered by Penny Nom.
Compound interest 2007-07-11
From Michelle:
Present Value of $1500 to be paid in Year 7, with an interest rate of 12%
Answered by Stephen La Rocque.
Paying off a debt 2007-04-26
From Ema:
How would you enter a formula in Excel for the following:

payment is applied to principal balance, then 8% interest compounded daily, then .25% monthly penalty

Answered by Stephen La Rocque and Penny Nom.
How long would it take to have $100,000? 2007-04-07
From Carolyn:
If I invested $1000.00 (one time ) at 1% compounded daily, how long would it take to have $100,000. ?
Answered by Stephen La Rocque.
Which compounding period will make the interest rate be as low as possible? 2007-03-27
From lilly:
if i decide to loan a friend 12000 and he said that he will pay it back in a single payment of 16000 after 5 years. which compounding period will make the interest rate be as low as possible? daily or yearly? how can i calculate each (yearly compound and daily compound)?
Answered by Penny Nom.
Compound interest 2007-03-20
From cos:
how much would $2000 be at the end of 1 yr. at a daily compounded interest rate of 3% be? the 3% is not yearly but daily. thank you very much for your help!!
Answered by Penny Nom.
Compound daily interest 2007-01-27
From Sharon:
calculate the return on $20,000 for 3 years at an interest rate of 8% that compounds daily.
Answered by Stephen La Rocque.
The interest is compounded daily 2007-01-26
From Kimberey:
If I put $2000 in a savings account with 5.05% APR and the interest is compounded daily, but credited monthly, how much would I have at the end of a year?
Answered by Stephen La Rocque.
Interest compounded daily 2007-01-24
From Scott:
I would like to know what 4.88% interest compounded daily would amount to on $24,000.
Answered by Penny Nom.
Interest compounded daily 2007-01-01
From Kelly:
I have made an investment that offers one-half of 1% interest compounded daily. What would that interest calculate to with a $100,000.00 investment for one year ? I have not found a calculative formula that will calculate these figures ... Please HELP !!!
Answered by Penny Nom.
Compound interest 2006-06-01
From Kerem:

Question: Quing deposits $40 at the end of each month into a savings account. If the money earns 4% annum compounded monthly, how much money is in the account at the end of 24 months?


Calculate the present value of an annuity, if $150 payments are to be made monthly for 4 years and the interest rate is 9% per annum compounded monthly.

Answered by Natasha Glydon and Penny Nom.
Compound Interest Formula and explanation 2006-04-14
From Michelle:
Currently there is $10,000 in a customer's savings account that earns 4% interest compounded annually. How much interest will the customer earn in a year?
Answered by Stephen La Rocque.
$24,000 investment at 5% daily interest 2005-12-21
From Gary:
My friend is a professional day trader on the stock exchange. He claims that he can take a $24,000 investment at 5% daily interest and at the end of 3 years have approximately 34 million dollars. Can this be correct?
Answered by Penny Nom.
$20,000 at 25% compounded daily 2004-02-03
From A student:
Hi there, I'm tying to figure out how much interest I would pay on 20,000 if it was 25% compounded daily.
Answered by Penny Nom.
Interest compounded daily 2003-10-08
From Terie:
If I owe $2000.00 @ 6.25% compounded daily for 54 days. How much do I owe in interest?
Answered by Penny Nom.
Interest compounded daily 2003-06-24
From Jeff:
What would be the amount of interest charged or accrued and how is it calculated on principal balance of $209.12 @ 6% interest rate compounded daily for 70 days?
Answered by Penny Nom.
Interest compounded daily 2003-04-18
From Bruce:
I recently received $7,987.68. This amount consisted of $7,543.61 invested at 6% per annum, compounded daily. I am trying to find out how many days this investment accrued interest.
Answered by Penny Nom.
Future value 2002-06-27
From Susan:
If one were to invest $115 a month for 20 years and expect a 4% annual return, what is the value of this money in 20 years?
Answered by Leeanne Boehm.
Compound interest 2001-04-11
From A student:
What principal will grow to $1367.10 after 1 year at 10% compounded semi-annually?
Answered by Claude Tardif and Penny Nom.
Interest compounded daily 2000-04-03
From Debbie Bracken:
How do I figure interest that is compounded daily? 8% compounded daily.
Answered by Penny nom.
Compounding continuously 2000-03-21
From Gina:
You deposit $1500 in an account that pays 6.5% annual interest, compounded continuously. Find the balance after 10 years.

I'm not sure what to do with the "compounded continuously" part.

Answered by Penny Nom.
Building a pyramid 2000-02-26
From Francis X. Hines Jr.:
I am presently trying to build a pyramid. I can understand that the base has 90 degree angles on the first plane which is the outline of the square that makes up the floor.

As close as I can figure the slope of each wall face is 35 degrees or 35.7 to be exact if I am correct by using 360 as the total of the three interior angles.Now , I run into a compound angle where the corners meet what would be the angle created by the two 35 degree angles that would allow for the 90 degree edge to continue.

Because I'm working in three dimensions I also need to be sure that my math would be correct when I substract 35 from 90 to aquire the angle of the narrow edge as to allow for a 90 degree surface to be present ..to allow for another level to be added with only the base line being shortened. I hope you can understand what it is that I'm asking assistance with.I would greatly appericate your help.

Answered by Chris Fisher.
Compound Interest 1999-07-01
From Kim Palmer:
In early 1997, my son borrowed $4831 at 7.5%. He has made 30 monthly payments of $130 each. He is now in a position to pay off the balance. What is his remaining principal?
Answered by Penny Nom.



Math Central is supported by the University of Regina and The Pacific Institute for the Mathematical Sciences.



Home Resource Room Home Resource Room Quandaries and Queries Mathematics with a Human Face About Math Central Problem of the Month Math Beyond School Outreach Activities Teacher's Bulletin Board Canadian Mathematical Society University of Regina PIMS