You deposit $2000 in an account with an annual interest rate of r (in decimal form) compounded monthly. At the end of 5 years, the balance A is 60 +)*⁰. A 2000 1+ Find the rates of change of A with respect to r when r= 0.08, r= 0.10, and r= 0.12. (Round your answer to two decimal places.) (a) - 0.08 (b) - 0.10 $ (c) r=0.12 per 100 percentage points per 100 percentage points per 100 percentage points

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Question
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You deposit $2000 in an account with an annual interest rate of r (in decimal form) compounded monthly. At the end of 5 years, the balance A is
60
+)*⁰.
A 2000 1+
Find the rates of change of A with respect to r when r= 0.08, r= 0.10, and r= 0.12. (Round your answer to two decimal places.)
(a) - 0.08
(b) - 0.10
$
(c) r=0.12
per 100 percentage points
per 100 percentage points
per 100 percentage points
Transcribed Image Text:You deposit $2000 in an account with an annual interest rate of r (in decimal form) compounded monthly. At the end of 5 years, the balance A is 60 +)*⁰. A 2000 1+ Find the rates of change of A with respect to r when r= 0.08, r= 0.10, and r= 0.12. (Round your answer to two decimal places.) (a) - 0.08 (b) - 0.10 $ (c) r=0.12 per 100 percentage points per 100 percentage points per 100 percentage points
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