exponential functions & compound interest

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  • 8/8/2019 Exponential Functions & Compound Interest

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    EXPONENTIAL FUNCTIONS & COMPOUND INTEREST

    Compound Interest:

    time

    Growth/Decay Rate:

    Growth b = (1+r)

    Decay b = (1-r)

    *r is written as a decimal*

    Starting amount

    Accumulated

    AmountInitial Principal

    (Amount Invested)# of times interest

    is compounded

    per year

    # of years

    Annual interest

    rate (written as

    a decimal

    # of times interest

    is compounded

    per year