A population doubles every 24 years. Assuming exponential growth find the following: % help (numbers) % per year help (numbers) (a) The annual growth rate: | (b) The continuous growth rate is

Hector invests $10,000 at age 21. He hopes the investments will be worth when he turns 50. If the interest compounds continuously, approximately what rate of growth Will he need to achieve his goal?

Effective Yield The effective yield of an investment plan is the percent increase in the balance after 1 year. Find the effective yield for each investment plan. Which investment plan has the greatest effective yield ? Which investment plan will have the highest balance after 5 years ? (a) 7 annual interest rate, compounded annually (b) 7 annual interest rate, compounded continuously (c) 7 annual interest rate, compounded quarterly (d) 7.25 annual interest rate, compounded quarterly