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18. Use the following information to answer question 18. Darlene received an inheritance of $15 000. She invested it in a GIC that carns 4.5% per year, compounded annually. She would like this investment to accumulate to $25 000, which she can put toward a down payment on a house. The table below shows Darlene's balance over the first 5 years. Time, f (years) 0 1 2 3 4 5 Amount, 15 000 15 675 16 380 17 117 17 888 18 693 (S) Use a logarithmic regression equation to determine the time it takes, to the nearest tenth of a year, for the balance to equal $25 000. (Hint: LI-Amount; L2- Time).

18. Use the following information to answer question 18. Darlene received an inheritance of $15 000. She invested it in a GIC that carns 4.5% per year, compounded annually. She would like this investment to accumulate to $25 000, which she can put toward a down payment on a house. The table below shows Darlene's balance over the first 5 years. Time, f (years) 0 1 2 3 4 5 Amount, 15 000 15 675 16 380 17 117 17 888 18 693 (S) Use a logarithmic regression equation to determine the time it takes, to the nearest tenth of a year, for the balance to equal $25 000. (Hint: LI-Amount; L2- Time).

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Use the following information to answer question 18. Darlene received an inheritance of $15 000. She invested it in a GIC that carns 4.5% per year, compounded annually. She would like this investment to accumulate to $25 000, which she can put toward a down payment on a house. The table below shows Darlene's balance over the first 5 years. Time, / (years) 0 1 2 3 4 5 Amount, A (S) 15 000 15.675 16.380 17 117 17 888 18 693 18 Use a logarithmic regression equation to determine the time it takes, to the nearest tenth of a year, for the balance to equal $25 000. (Hint: LI-Amount; L2 = Time).
Transcribed Image Text:Use the following information to answer question 18. Darlene received an inheritance of $15 000. She invested it in a GIC that carns 4.5% per year, compounded annually. She would like this investment to accumulate to $25 000, which she can put toward a down payment on a house. The table below shows Darlene's balance over the first 5 years. Time, / (years) 0 1 2 3 4 5 Amount, A (S) 15 000 15.675 16.380 17 117 17 888 18 693 18 Use a logarithmic regression equation to determine the time it takes, to the nearest tenth of a year, for the balance to equal $25 000. (Hint: LI-Amount; L2 = Time).
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