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Investing $1000 at an annual interest rate of r %, compounded continuously, for 10 years gives you a balance of B dollars, where B = g(r). Give a financial interpretation of the following statements. (a) g(6) 1822 O The balance in the account, at 6% interest, would increase by about $1822 if the interest rate were increased by 1%. O Investing $1000 at 6% would yield about $1822 after 10 years. O The balance in the account, at 6% interest, would increase by about $1000 if the interest rate were increased by 1%. O The balance in the account, at 6% interest, would increase by about $822 if the interest rate were increased by 1%. (b) g '(6) 182 O The balance in the account, at 6% interest, would increase by about $1000 if the interest rate were increased by 182%. O Investing $1000 at 6% would yield about $182 after 10 years. O The balance in the account, at 6% interest, would increase by about $182 if the interest rate were increased by 1%. O The balance in the account, at 6% interest, would increase by about $1182 if the interest rate were increased by 1%. O Investing $10 at 6% would yield about $182 after 10 years. What are the units of g '(6)?---Select--- v

Investing $1000 at an annual interest rate of r %, compounded continuously, for 10 years gives you a balance of B dollars, where B = g(r). Give a financial interpretation of the following statements. (a) g(6) 1822 O The balance in the account, at 6% interest, would increase by about $1822 if the interest rate were increased by 1%. O Investing $1000 at 6% would yield about $1822 after 10 years. O The balance in the account, at 6% interest, would increase by about $1000 if the interest rate were increased by 1%. O The balance in the account, at 6% interest, would increase by about $822 if the interest rate were increased by 1%. (b) g '(6) 182 O The balance in the account, at 6% interest, would increase by about $1000 if the interest rate were increased by 182%. O Investing $1000 at 6% would yield about $182 after 10 years. O The balance in the account, at 6% interest, would increase by about $182 if the interest rate were increased by 1%. O The balance in the account, at 6% interest, would increase by about $1182 if the interest rate were increased by 1%. O Investing $10 at 6% would yield about $182 after 10 years. What are the units of g '(6)?---Select--- v

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Investing $1000 at an annual interest rate of r %, compounded continuously, for 10 years gives you a balance of B dollars, where B = g(r). Give a financial interpretation of the following statements. (a) g(6)≈ 1822 O The balance in the account, at 6% interest, would increase by about $1822 if the interest rate were increased by 1%. O Investing $1000 at 6% would yield about $1822 after 10 years. O The balance in the account, at 6% interest, would increase by about $1000 if the interest rate were increased by 1%. O The balance in the account, at 6% interest, would increase by about $822 if the interest rate were increased by 1%. (b) g'(6) 182 O The balance in the account, at 6% interest, would increase by about $1000 if the interest rate were increased by 182%. O Investing $1000 at 6% would yield about $182 after 10 years. The balance in the account, at 6% interest, would increase by about $182 if the interest rate were increased by 1%. O The balance in the account, at 6% interest, would increase by about $1182 if the interest rate were increased by 1%. O Investing $10 at 6% would yield about $182 after 10 years. What are the units of g '(6)? ---Select---
Transcribed Image Text:Investing $1000 at an annual interest rate of r %, compounded continuously, for 10 years gives you a balance of B dollars, where B = g(r). Give a financial interpretation of the following statements. (a) g(6)≈ 1822 O The balance in the account, at 6% interest, would increase by about $1822 if the interest rate were increased by 1%. O Investing $1000 at 6% would yield about $1822 after 10 years. O The balance in the account, at 6% interest, would increase by about $1000 if the interest rate were increased by 1%. O The balance in the account, at 6% interest, would increase by about $822 if the interest rate were increased by 1%. (b) g'(6) 182 O The balance in the account, at 6% interest, would increase by about $1000 if the interest rate were increased by 182%. O Investing $1000 at 6% would yield about $182 after 10 years. The balance in the account, at 6% interest, would increase by about $182 if the interest rate were increased by 1%. O The balance in the account, at 6% interest, would increase by about $1182 if the interest rate were increased by 1%. O Investing $10 at 6% would yield about $182 after 10 years. What are the units of g '(6)? ---Select---
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