Chapter 6 To find the future value and the amount of interest for a simple interest loan and an investment

t To find the simple interest rate earned on an investment To find the time required for a simple interest investment to reach a goal To write a specified number of terms of a sequence To find specified terms and sums of specified numbers of terms of arithmetic sequences To find the future value of a compound interest investment and the amount of interest earned when interest is compounded at regular intervals or continuously To find the annual percentage yield (APY) or the effective annual interest rate of money invested at compound interest To find the time it takes for an investment to reach a specified amount To find specified terms, and sums of specified numbers of terms, of geometric sequences To compute the future values of ordinary annuities and annuities due To compute the payments required in order for ordinary annuities and annuities due to have specified future values To compute the payment required to establish a sinking fund To find how long it will take to reach a savings goal To compute the present values of ordinary annuities, annuities due, and deferred annuities To compute the payments for a specified present value for an ordinary annuity, an annuity due, and a deferred annuity To find how long an annuity will last To find the regular payments required to amortize a debt To find the amount that can be borrowed for a specified payment To develop an amortization schedule To find the unpaid balance of a loan To find the effect of paying an extra amount