Exam 1 Formulas

Question 1

Annually

Answer 1

1

Question 2

Semiannually

Answer 2

2

Question 3

Quarterly

Answer 3

4

Question 4

Monthly

Answer 4

12

Question 5

Weekly

Answer 5

52

Question 6

Daily

Answer 6

365

Question 7

Future value of an investment or loan, use when you have P,r,n,t

Answer 7

A=P(1+ r/n)^nt

Question 8

Present value of an investment or loan, use when you have future value, r, n,t

Answer 8

P= A/(1+ r/n)^nt

Question 9

Compounded continuously

Answer 9

A=Pe^rt

Question 10

Use when you know future value and when you want to find out how much you need to deposit or pay regularly

Answer 10

PMT=FV x (r/n)/[(1+ r/n)^nt -1}

Question 11

Use when you know the regular payments

Answer 11

FV= PMT x [(1+ r/n)^nt -1]/(r/n)

Question 12

Use to calculate regular payment required for a loan or investment, when you have P, r, n, t

Answer 12

PMT= (P x r/n)/[1-(1+ r/n)^-nt]

Question 13

Total deposit x total months

Answer 13

Total deposited

Question 14

How to find final investment after finding total deposited

Answer 14

Total amount - total deposit

Question 15

(Tip/original bill) x 100

Answer 15

Percentage of original bill

Question 16

Original price - ( original price x discount percentage)

Answer 16

Sale price