1) You decided to use part of your savings to contribute to your IRA (Individual Retirement Account). You can can afford to contribute \( \$ 2000 \) and the fund that you want to invest in averages a \( 5 \% \) interest rate compounded yearly. Determine how much of your original investment would be worth in:
a) \( 20 \) years
b) \( 30 \) years
c) \( 40 \) years
Use the app to check your answer:
a) \( 20 \) years
b) \( 30 \) years
c) \( 40 \) years
Use the app to check your answer:
2) According to U.S. News [1] college tuition currently grows by \( 3.8 \% \) per year. If the average cost of going to college is \( \$ 30,090 \) per year, what will the cost be in four years?
3) You decide to buy a phone, computer and tablet for your first year in college and you spend \( \$ 4000 \). If we predict that the the depreciation of those devices is \( 22.4 \% \) [2] each year. What will they be worth at the end of your freshman, sophomore, junior and senior years?
4) Each year a resort is seeing a \( 5 \% \) decline in visitors each year for five years. The original attendance is \( 3,000 \) patrons. What is the attendance at the end of the five years?
5) In 1965, an observation was made by Intel co-founder Gordon Moore, he noticed that the number of transistors per square inch on integrated circuits had doubled every year since their invention. [3] If the latest fourth-gen Intel Core processor has \( 1.7 \) billion transistors, how many transistors will be on the processor of the same size that comes out in \( 10 \) years?
Review
6) Solve the system \( \begin{cases} 3x=x-15\\ x-3y=7\\ \end{cases} \)
Practice Problems Solution Bank
3) You decide to buy a phone, computer and tablet for your first year in college and you spend \( \$ 4000 \). If we predict that the the depreciation of those devices is \( 22.4 \% \) [2] each year. What will they be worth at the end of your freshman, sophomore, junior and senior years?
4) Each year a resort is seeing a \( 5 \% \) decline in visitors each year for five years. The original attendance is \( 3,000 \) patrons. What is the attendance at the end of the five years?
5) In 1965, an observation was made by Intel co-founder Gordon Moore, he noticed that the number of transistors per square inch on integrated circuits had doubled every year since their invention. [3] If the latest fourth-gen Intel Core processor has \( 1.7 \) billion transistors, how many transistors will be on the processor of the same size that comes out in \( 10 \) years?
Review
6) Solve the system \( \begin{cases} 3x=x-15\\ x-3y=7\\ \end{cases} \)
Practice Problems Solution Bank