# Calculating Financial Problems with Mathematical Models

Instructions:

question 1 of 3

### If you invest P dollars into an account offering r% (in decimal form) simple interest for t years, what mathematical model would you use to figure out the amount of money in the account after those t year?

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### 2. If you invest P dollars into an account offering r% (in decimal form) interest compounded continuously, which of the following mathematical models can you use to calculate the amount of money in the account after t years?

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The quiz and worksheet are useful resources for checking your understanding of calculating financial problems using mathematical models. Different types of interest are addressed on the quiz.

## Quiz & Worksheet Goals

Use this assessment to gauge your comprehension of:

• Using simple interest
• Calculating how much money you'll have when interest is compounded a certain number of times per year
• Dealing with interest compounded continuously

## Skills Practiced

If you use the quiz and worksheet, you can practice the following skills:

• Reading comprehension - ensure that you draw the most important information from the lesson on mathematical models used in finance
• Knowledge application - use your knowledge to answer questions about the different formulas used to calculate the amount of money earned over a certain number of years
• Information recall - access the knowledge you have gained about working with interest that is compounded continuously