In the period immediately following the initial public offering (IPO), OHaganBooks.com's stock was increasing by 2.1% every 15 minutes (that is 4 times an hour). Based on this information, create an exponential model, where t is time is hours since it was first offered to answer the following : If you bought $12,000 worth of stock when it was first offered, how much was your stock worth after 8 hours. (Round to the nearest cent which is two decimal places.)

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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In the period immediately following the initial public offering (IPO), OHaganBooks.com's stock was
increasing by 2.1% every 15 minutes (that is 4 times an hour). Based on this information, create an
exponential model, where t is time is hours since it was first offered to answer the following:
If you bought $12,000 worth of stock when it was first offered, how much was your stock worth
after 8 hours. (Round to the nearest cent which is two decimal places.)
(Hint: this is not a continuous exponential model.)
Transcribed Image Text:In the period immediately following the initial public offering (IPO), OHaganBooks.com's stock was increasing by 2.1% every 15 minutes (that is 4 times an hour). Based on this information, create an exponential model, where t is time is hours since it was first offered to answer the following: If you bought $12,000 worth of stock when it was first offered, how much was your stock worth after 8 hours. (Round to the nearest cent which is two decimal places.) (Hint: this is not a continuous exponential model.)
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