The purchasing power P (in dollars) of an annual amount of A dollars after t years of 5% inflation decays according to the following formula P=Ae^-0.05t A. How long will it be before a pension of $80,000 per year has a purchasing power of $20,000? (Round your answer to the nearest dollar). B. How much pension A would be needed so that the purchasing power P is $40,000 after 11 years? (Round to the nearest dollar).
The purchasing power P (in dollars) of an annual amount of A dollars after t years of 5% inflation decays according to the following formula P=Ae^-0.05t A. How long will it be before a pension of $80,000 per year has a purchasing power of $20,000? (Round your answer to the nearest dollar). B. How much pension A would be needed so that the purchasing power P is $40,000 after 11 years? (Round to the nearest dollar).
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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1. The purchasing power P (in dollars) of an annual amount of A dollars after t years of 5% inflation decays according to the following formula
P=Ae^-0.05t
A. How long will it be before a pension of $80,000 per year has a purchasing power of $20,000? (Round your answer to the nearest dollar).
B. How much pension A would be needed so that the purchasing power P is $40,000 after 11 years? (Round to the nearest dollar).
2. Suppose the supply of x units of a certain product at price P dollars per unit is given by
P= 17 + 5ln(2x+1)
How many units of the product would be supplied when the price is $47 each (round your answer to the nearest whole number).
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