4 3 2 1 0 In addition to level 3 students make connections to other content areas andor contextual situations outside of math Students will construct compare and interpret linear and exponential function models and solve problems in context with each model ID: 1027418
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1. 8.6 Problem Solving: Compound Interests
2. 43210In addition to level 3, students make connections to other content areas and/or contextual situations outside of math. Students will construct, compare, and interpret linear and exponential function models and solve problems in context with each model. - Compare properties of 2 functions in different ways (algebraically, graphically, numerically in tables, verbal descriptions) - Describe whether a contextual situation has a linear pattern of change or an exponential pattern of change. Write an equation to model it. - Prove that linear functions change at the same rate over time. - Prove that exponential functions change by equal factors over time. - Describe growth or decay situations. - Use properties of exponents to simplify expressions.Students will construct, compare, and interpret linear function models and solve problems in context with the model. - Describe a situation where one quantity changes at a constant rate per unit interval as compared to another. Students will have partial success at a 2 or 3, with help.Even with help, the student is not successful at the learning goal.Focus 8 Learning Goal – (HS.N-RN.A.1 & 2, HS.A-SSE.B.3, HS.A-CED.A.2, HS.F-IF.B.4, HS.F-IF.C.8 & 9, and HS.F-LE.A.1) = Students will construct, compare and interpret linear and exponential function models and solve problems in context with each model.
3. Simple interest: I=prtI = interestp = principal: amount you start withr = rate of interestt= time in years
4. If you invest $3,000 at 5% for one year, how much will you make for the year?I = prt = 3000 0.05 1 = 150You made $150 for the year.
5. A = p(1+r)tA = balance p = principalr = rate t = time in yearsCompound interest formula:
6. Find the total amount in your account if you start with $750 at 7.5% interest compounded annually for 2.5 years.A = p(1+r)t = 750(1+0.075)2.5 = 750(1.075)2.5 (use a calculator here!) = $898.63
7. How much should you invest at 7% compounded annually to have $200 after 5 years? A = p(1+r)t (Plug in what you know.) 200 = p(1.07)5 (get p alone, then use a calculator.) 200 = p (1.07)5142.60= p
8. If you put $100 in the bank at 4% interest compounded annually and leave it until you are 60, how much money will you have?A = p(1+r)t = 100(1.04)46 (This assumes you are currently 14) = 607.48
9. What about a mutual fund that pays 10% interest compounded annually?A = p(1+r)t = 100(1.10)46 = 8017.95