31 332 CHAPTER 5 Exponential and Logarithmic FunctionsIn Problems 15–22, find the principal needed now to get each amount; that is, jina the15. To get $100 after 2 years at 6% compounded monthly16. To get $7118. To get $:17. To get $1500 after 2 years at 1.5% compounded daily20. To get $319. To get $750 after 2 years at 2.5% compounded quarterly122. To get $21. To get $120 after 3– years at 5% compounded continuously4.In Problems 23–26, find the effective rate of interest.23. For 5% compounded quarterly25. For 4% compounded continuously24. For 6%26. For 6%In Problems 27–30, determine the rate that represents the better deal.128. 9% com27. 6% compounded quarterly or 6-% compounded annually430. 8% com29. 9% compounded monthly or 8.8% compounded daily31. What rate of interest compounded annually is required todouble an investment in 3 years?32. What radoubleHow much33. What rate of interest compounded annually is required totriple an investment in 5 years?35. (a) How long does it take for an investment to double invalue if it is invested at 8% compounded monthly?(b) How long does it take if the interest is compoundedcontinuously?34. What ratriple ar36. (а) Но-if it(b) Ноcon37. What rate of interest compounded quarterly will yield aneffective interest rate of 7%?38. What raeffectivApplications and Extensions39. Time Required to Reach a Goal If Tanisha has $100 to investat 4% per annum compounded monthly, how long will it bebefore she has $150? If the compounding is continuous, how46. Payingoff a lolong will it be?40. Time Required to Reach a Goal If Angela hoo f10the $30at 2.5%

Name: 31 332 CHAPTER 5 Exponential and Logarithmic FunctionsIn Problems 15–2
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Description: 31 332 CHAPTER 5 Exponential and Logarithmic FunctionsIn Problems 15–22, find the principal needed now to get each amount; that is, jina the15. To get $100 after 2 years at 6% compounded monthly16. To get $7118. To get $:17. To get $1500 after 2 year