1) Given an initial value of $200, find a combination in which you could reach your target value of $1000 within 10 years.

2) List THREE different combinations of variables that will allow you to achieve a target value of $3000.

3) No matter what your initial conditions or target value happen to be, are you always guaranteed to reach your goal within 15 years? If your answer is "no", find a combination of variables that will justify your answer.

4) If your target value is $5000, and you begin your initial investment of $500 and an APR of 16%, about how many years would it take you to get half way to your goal? (Round your answer to the nearest year and assume that interest is compounding as much as possible).

Reaching the Goal The graph of the balance of an investment is given. You can vary the initial value, annual percentage rate (APR), and the number of compounding periods per year to change the curve. Also you can use the Time slider and Target Value slider to see how long it takes for the balance to reach the target value. Initial value $250 APR 10% Type of Compounding annual semiannual quarterly monthly daily Balance (dollars) 10,000- 9,000 8,000 7,000- 6,000 5,000 4,000 3,000- 2,000 1,000 0 0 1 Time N 3 4 5 6 7 8 9 10 11 12 13 14 15 Time (years) Target value 8,000 Avantina