HW Supplement: Interest and Logarithms Show all steps that support your answer. Solve for x. 4 = 3e5* Name Find the parameters that models the exponential growth given the following two data points: (0, 3000) & (10, 5406) y = Aekt (I.e. find A and k) o won las lasvalobanov ob law glup be A bank offers an annual interest rate of 3.5% compounded quarterly. a). If you invest $1500, how much will your balance be in 5 years? b). If you want to have $6000 in 20 years, how much will you have to invest now? c). How long does it take for an amount invested in this account to double? d). Explain the relationship between your answer in parts b &c. (If you cannot find a relationship, you may have made an error in calculating b or c.)
HW Supplement: Interest and Logarithms Show all steps that support your answer. Solve for x. 4 = 3e5* Name Find the parameters that models the exponential growth given the following two data points: (0, 3000) & (10, 5406) y = Aekt (I.e. find A and k) o won las lasvalobanov ob law glup be A bank offers an annual interest rate of 3.5% compounded quarterly. a). If you invest $1500, how much will your balance be in 5 years? b). If you want to have $6000 in 20 years, how much will you have to invest now? c). How long does it take for an amount invested in this account to double? d). Explain the relationship between your answer in parts b &c. (If you cannot find a relationship, you may have made an error in calculating b or c.)
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 51RE
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Transcribed Image Text:HW Supplement: Interest and Logarithms
Show all steps that support your answer.
Solve for x.
4 = 3e5*
Name
Find the parameters that models the exponential growth given the following two data points:
(0, 3000) & (10, 5406)
y = Aekt
(I.e. find A and k)
o won las
lasvalobanov ob law glup be
A bank offers an annual interest rate of 3.5% compounded quarterly.
a). If you invest $1500, how much will your balance be in 5 years?
b). If you want to have $6000 in 20 years, how much will you have to invest now?
c). How long does it take for an amount invested in this account to double?
d). Explain the relationship between your answer in parts b &c. (If you cannot find a
relationship, you may have made an error in calculating b or c.)
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