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1. Suppose that a couple invested P50, 000 in an account when their child was born, to prepare for the child's college education. If the average interest rate is 4.4% compounded annually, (a) give an exponential model for the situation, and (b) will the money be doubled by the tie the child turns 18 years old?

1. Suppose that a couple invested P50, 000 in an account when their child was born, to prepare for the child's college education. If the average interest rate is 4.4% compounded annually, (a) give an exponential model for the situation, and (b) will the money be doubled by the tie the child turns 18 years old?

Intermediate Algebra
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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1. Suppose that a couple invested P50, 000 in an accoumt when their child was born, to prepare for the child's college education. If the average interest rate is 4.4% oompounded annually, (a) give an exponential nmodel for the situation, and (b) will the money be doubled by the tine the child turns 18 years old? 2. You take out a P20,000 loan at a 5% interest rate. If the interest is compounded annually, (a) give an exponential model for the situation, and (b) how much will you owe after 10 years? 3. Suppose that the half-life of a substance is 250 years. If there were initially 100g of the substance, (a) give an exponential model for the situation, and (b) how much will remain after 500 years? 4. A population starts with 1,000 individuals and triples every 80 years. (a) Give an exponential model for the situation. (b) What is the size of the population after 100 years? 5. P10, 000 is invested at 2% compounded annually. (a) Give an exponential model for the situation. (b) What is the amount after 12 years?
Transcribed Image Text:1. Suppose that a couple invested P50, 000 in an accoumt when their child was born, to prepare for the child's college education. If the average interest rate is 4.4% oompounded annually, (a) give an exponential nmodel for the situation, and (b) will the money be doubled by the tine the child turns 18 years old? 2. You take out a P20,000 loan at a 5% interest rate. If the interest is compounded annually, (a) give an exponential model for the situation, and (b) how much will you owe after 10 years? 3. Suppose that the half-life of a substance is 250 years. If there were initially 100g of the substance, (a) give an exponential model for the situation, and (b) how much will remain after 500 years? 4. A population starts with 1,000 individuals and triples every 80 years. (a) Give an exponential model for the situation. (b) What is the size of the population after 100 years? 5. P10, 000 is invested at 2% compounded annually. (a) Give an exponential model for the situation. (b) What is the amount after 12 years?
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