Math Help - Compound Interest - Accumulated Amount - Car Race Theme - Game Tips:
- The compound amount A , can be calculated using the formula A = P(1+i)n
where P is the principal amount invested (Example: $200.)
i is the interest rate per conversion period (Example: 4% = .04)
n is the number of conversion periods (Example: 5 years).
- Example 1: The compound amount that results from investing $200 for 5 years
at the interest rate of 4% compounded annually is calculated as A = 200(1+.04)5.
The expression A = 200(1.04)5 can be evaluated using a calculator to get A = 243.33 dollars.
The calculator should have a button to do exponents. (Sample buttons: xy , ax , yx etc.)
- Example 2: The compound amount that results from investing $200 for 5 years
at the interest rate of 4% compounded quarterly is calculated as A = 200(1+.01)20.
The expression A = 200(1.01)20 can be evaluated using a calculator to get A = 244.04 dollars.
Interest rates (such as 4%) are quoted per annum unless otherwise stated.
- The game can be played using the mouse by itself or using the keyboard by itself.
- If the game doesn't respond to keyboard input, click inside the game area to reset the game's focus.
- Adjust the game's speed by pressing the + or - key repeatedly.
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