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EXERCISES (Exponents, Logarithms, and Applications To Compound Interest)

This document contains a set of exercises involving exponents, logarithms, and applications of compound interest. There are over 80 exercises that involve evaluating expressions, determining if statements are true or false, rewriting expressions with positive exponents, simplifying expressions, expressing equations in logarithmic form, using logarithms to solve equations, and applying the compound interest formula to calculate interest rates and time periods for investments to grow to specified amounts under different interest compounding schedules.

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Ecargyrem Ozater Ozom
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75 views4 pages

EXERCISES (Exponents, Logarithms, and Applications To Compound Interest)

This document contains a set of exercises involving exponents, logarithms, and applications of compound interest. There are over 80 exercises that involve evaluating expressions, determining if statements are true or false, rewriting expressions with positive exponents, simplifying expressions, expressing equations in logarithmic form, using logarithms to solve equations, and applying the compound interest formula to calculate interest rates and time periods for investments to grow to specified amounts under different interest compounding schedules.

Uploaded by

Ecargyrem Ozater Ozom
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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EXERCISES (Exponents, Logarithms, and Applications to Compound Interest) In Exercises 1 16, evaluate the expression.

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In Exercises 17-26, determine whether the statement is true or false. Give a reason for your choice. 17. 18. 19.

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26. In Exercises 27-32, rewrite the expression using positive exponents only.

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In Exercises 33-48, simplify the expression. (Assume x, y, r, s, and t are positive.)

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In Exercises 49-58, express the given equation in logarithmic form.

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52. 55. 58.

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In Exercises 59-64, use the facts that log 3 = 0.4771 and log 4 = 0.6021 to find the value of the given logarithm.

59. log 12 60. log

61. log 16

62. log

63. log 48 64. log

In Exercises 65-74, use logarithms to solve the given equation for t.

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75. Find the rate of interest needed for an investment of $5000 to grow to an amount of $7500 in 3 years if interest is compounded monthly. 76. Find the rate of interest needed for an investment of $5000 to grow to an amount of $7500 in 3 years if interest is compounded quarterly. 77. Find the rate of interest needed for an investment of $5000 to grow to an amount of $8000 in 4 years if interest is compounded semiannually. 78. Find the rate of interest needed for an investment of $5000 to grow to an amount of $5500 in 6 months if interest is compounded monthly 79. Find the rate of interest needed for an investment of $2000 to double in 5 years if interest is compounded annually. 80. Find the rate of interest needed for an investment of $2000 to triple in 5 years if interest is compounded monthly. 81. How long will it take $5000 to grow to $6500 if the investment earns interest at the rate of 12% per year compounded monthly?. 82. How long will it take $12,000 to grow to $15,000 if the investment earns interest at the rate of 8% per year compounded monthly? 83. How long will it take an investment of $2000 to double in value if the investment earns interest at the rate of 9% per year compounded monthly? 84. How long will it take an investment of $5000 to triple in value if the investment earns interest at the rate of 8% per year compounded daily? The formula gives the accumulated value, A, of a sum of money, P, that has been invested for a term of t years at an interest rate of r percent compounded continuously. [This formula can be derived from Formula (1) by letting n "approach infinity"-- roughly speaking, a result of compounding more and more frequently.] In Exercises 85-87, use the continuous compound interest formula. 85. Find the rate of interest needed for an investment of $5000 to grow to an amount of $6000 in 3 years if interest is compounded continuously. 86. Find the rate of interest needed for an investment of $4000 to double in 5 years if interest is compounded continuously. 87. How long will it taken an investment of $6000 to grow to a sum of $7000 if the investment earns interest at the rate of 7 % compounded continuously. 88. How long will it take an investment of $8000 to double its value if the investment earns interest at the rate of 8% compounded continuously.

Answers (Exponents, Logarithms, and Applications to Compound Interest)

1. 9 2.

3. 1 4. 49 5. 4 6. 729 7. 7 8.

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10. 4 11. 2 12.

13. 2 14.

15. 1

16. 36 17. True 18. True 19. False 20. False 21. False

22. True 23. False 24. True 25. False 26. True 27.

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37. x 38.

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59. 1.0792

60. -0.125 61. 1.2042 62. 0.2386 63. 1.6813 64. -2.4771 65. 5.1986 66. 0.3311 67. 0.0912 68. 1 69. 8.0472

70. 5.4931 71. 4.9041 72. 3.6620 73.

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75. 13.59% per yr 76. 13.75% per yr 77. 12.1% per yr 78. 19.21% per yr 79. 14.87% per yr 80. 22.17% per yr 81. 2.2 yr 82. 2.8 yr 83. 7.7 yr 84. 13.7 yr 85. 6.08% per yr 86. 13.86% per yr 87. 2.06 yr 88. 8.66 yr

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