MA40: Algebra II
Homework: 8.3 – The Number “e”
Do work on a separate sheet of paper!!!!
Be thorough & neat! Your work is more important than the answer!
1) A diamond ring was purchased 20 years ago for $500. The value of the ring increased by 8%
each year. What is the value of the ring today?
2) You deposit $1000 in an account that pays 8% annual interest. Find the balance after 1 year if the
interest is compounded with the given frequency.
a) annually
b) quarterly
c) daily
3) You buy a new car for $24,000. The value of the car decreases by 16% each year. What is the
value of the car after 2 years?
4) You deposit $725 in an account that pays 4.5% annual interest compounded continuously. What
is the balance after 3 years?
Problems from Textbook: Page 483-485, #17-31(odd), 39-43(odd), 49-53(odd), 67, 73, 75, 76
MA40: Algebra II
Homework: 8.3 – The Number “e”
Do work on a separate sheet of paper!!!!
Be thorough & neat! Your work is more important than the answer!
1) A diamond ring was purchased 20 years ago for $500. The value of the ring increased by 8%
each year. What is the value of the ring today?
2) You deposit $1000 in an account that pays 8% annual interest. Find the balance after 1 year if the
interest is compounded with the given frequency.
a) annually
b) quarterly
c) daily
3) You buy a new car for $24,000. The value of the car decreases by 16% each year. What is the
value of the car after 2 years?
4) You deposit $725 in an account that pays 4.5% annual interest compounded continuously. What
is the balance after 3 years?
Problems from Textbook: Page 483-485, #17-31(odd), 39-43(odd), 49-53(odd), 67, 73, 75, 76