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Financial Mathematics Problem Solving Log Applications

Evaluate, separate, and solve for x in various financial scenarios. Use logarithms to solve for balances, values, and interest rates. Apply exponential functions to analyze deposits and interest rates over time. Graph and apply the change of base formula for calculations.

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Financial Mathematics Problem Solving Log Applications

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  1. Evaluate Separate the log Write as a Single log Solve for x Applications 1pt 1 pt 1 pt 1pt 1 pt 2 pt 2 pt 2pt 2pt 2 pt 3 pt 3 pt 3 pt 3 pt 3 pt 4 pt 4 pt 4pt 4 pt 4pt 5pt 5 pt 5 pt 5 pt 5 pt

  2. Graph

  3. Graph

  4. Use the change of base formula to evaluate

  5. Solve

  6. Find the exponential function through the two points

  7. You deposit $975 is an account that pays 5.5% annual interest compounded continuously. What is the balance after 6 years?

  8. A new car costs $23,000. The value decreases by 15% each year. What is the value of the car after 3 years?

  9. approximately $14,125

  10. You deposit $500 in an account that pays 3% annual interest. Find the balance after 2 years if the interest is compounded quarterly.

  11. On the day a person was born, a deposit of $50,000 was made in a trust fund that pays 8.75% interest, compounded continuously. Find the balance on the person’s 35th birthday.

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