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Financial Mathematics: The Final Project

Explore simple and compound interest through Tessa, Greg, and Matt's financial endeavors. Calculate interest rates, growth, and investment worth over time. Real-life application of mathematical constants.

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Financial Mathematics: The Final Project

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  1. The Final Project By: G-reg, Matt, and Tessa

  2. I= interest P= Initial amount r= Interest rate t= Time I=Prt Simple Interest

  3. A= Amount P= Principal r= Interest rate n= Number of compounds t= Time Compound Interest

  4. A= Amount P= Principal r= Interest rate t= Time e= A mathematical constant A=PertContinuous Compound Interest

  5. Tessa’s Money Tessa was fortunate enough to inherit $10,000 from a close family friend. She would like to see how much money she has accumulated from the 12 years of interest at a rate of 1.75% compounded daily. A =10,000 (1+.0175/365)12(365) A= $12336.72

  6. A=P(1+r)t 90,950= 20,000(1+.0271) t 4.5475=1.0271t t= log 4.5475/log 1.0271 t= 55.8 years Greg’s New Car Skyline GT-R Cost of car = $90,950 How long will it take me to buy this car if I have a initial investment of $20,000 with a rate of 2.71% compounded annually?

  7. A=Pert A=3,500,000e(.0301)(5) A=$4,068,453.57 A=3,500,000e(.0301)(10) A=$4,729,232.70 A=3,500,000e(.0301)(15) A=$5,497,332.47 Matt’s Is-Land Matt owns a series of islands that run across the Puget Sound area. He is curious of how much he could sell his islands for if they are worth 3.5 million each with 10 acres. With the real estate market value of the islands increasing at a rate of 3.01% continuously. How much will the islands be worth in 5, 10, and 15 years?

  8. http://math2.org/math/general/interest.htm • http://www.nissanusa.com/apps/paymentestimator?vehicle=GT-R&tool=model.paymentestimator • http://www.bestcashcow.com/banks/banner-bank-rates-28489 • Pre-calculus Book Bibliography

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