a. When Lisa was born, Lisa's grandpa invested a capital of € 1000 at a compound interest of 5% yearly. At Lisa's 18th birthday, she receives the value of the investment. What is the value of this capital at her 18th birthday?
a. When Lisa was born, Lisa's grandpa invested a capital of € 1000 at a compound interest of 5% yearly. At Lisa's 18th birthday, she receives the value of the investment. What is the value of this capital at her 18th birthday?
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
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Transcribed Image Text:11.
a. When Lisa was born, Lisa's grandpa invested a capital of € 1000 at a compound interest of 5%
yearly. At Lisa's 18th birthday, she receives the value of the investment. What is the value of
this capital at her 18th birthday?
b. In the same way, grandpa invested a capital of € 1000 at the same compound interest of 5% yearly,
when Lisa's brother Greg was born. At the time of Lisa's 18th birthday, Greg's capital has grown
to the value of € 2105. How old is Greg at that time?
c. Lisa and Greg have another brother Jonathan, who is seven years younger than Lisa. Also when
Jonathan was born, grandpa invested a capital of € 1000 at the compound interest of 5% yearly. Is
there a time when the value of Lisa's capital is exactly one and a half times the value of Jonathan's
capital? If so, calculate how old Lisa is at that time. If not, explain why not.
d. Ahmed's grandpa invested € 900 when Ahmed was born, at a fixed yearly compound interest
rate. By the time Ahmed turns 18, this capital has grown to € 3021. What was the yearly fixed
interest rate?
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