Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Question
Logarithmic Functions.
Determine how long ,to the nearest year ,that it will take for the investment to be worth at least
$4000
Transcribed Image Text:A young man has $700 in an investment that earns 5.3% per year, compounded
annually. A function that models the growth of the deposit is
y = 700(1. 053)"
where y is the value of the investment, in dollars, and x is the number of years since
the deposit was made.
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