A Note On Getting Started Essay example

1276 Words Feb 10th, 2016 6 Pages
Getting Started:
1. Write two exponential models for the given information below. Use both and .
a)
Hours, t
0
4
6
7
9
12
Tribbles, y
2
23
80
148
208
3214

b)

2. You put $400 into a savings account that yields 4% interest compounded monthly. What will be the account balance in 3 years?

3. You deposit $3000 into a savings account that yields 3% compounded continuously.
How long will it take for your account to have a balance of $4500?

Extensions:
You are a financial planner. Your clients, Sally and Roberto Smith, would like to begin saving money with the long term goal of buying a house. They claim to have $7000 saved but it is not in an interest bearing account.

1. The Smiths believed that their credit score was 620, but were happy to learn that it had improved to 700. What would be the difference between a mortgage interest rate with a score of 620 and a rate with a score of 700? Compare the rates of at least two sources.

When Sally and Robert Smith came to Martinez and Morales Financial Planning Inc., also known as MMFP, we were very happy to help them out in their income and financial problems. We have been working in the financial planning industry for about fifteen years, and we have made many couples’ dreams of buying a house reality. Therefore we are more than happy to add the Smiths to our list of happily pleased customers.

When they first came to us they were in very harsh financial conditions, we thought that they were going to be…

Related Documents