Final Project
Compound and Continuous Interest Problems
Colleen Foy
For my additional write-up, I decided to design a project that covers compound and continuous interest. I got the idea while tutoring MATH 1101 this semester and the project the students had to do. However, I wanted to design my own questions since I did not think that their project was designed well. There are a lot of practical uses out of this particular section in the math modeling course, and there are a lot of ways it can relate to students. I wanted to take full advantage of that opportunity.
The formulas students should use for this project are given below:
Compound Interest Formula:
where A is the total amount, P is the principle amount, r is the interest rate, n is the number of times it is compounded per year, and t is the number of years.
Continuous Interest Formula:
where A is the total amount, P is the principle amount, r is the interest rate, and t is the number of years.
Here is a link to the word document for the assignment instructions.
Here is a link to the excel document for some answers/exploration.