You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months. Time in months Savings balance 0 $1600.00 1 $1622.40 2 $1645.11 3 $1668.14 4 $1691.49 5 $1715.17 (a) How much money was originally invested? $ (b) Show that the data are exponential. (Round your answer to three decimal places.) Each successive ratio of new/old is , which shows that the data is exponential. Find an exponential model for the account balance. (Let t be the time in months and B the savings balance in dollars. Round your parameters to three decimal places.) B(t) =
You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months. Time in months Savings balance 0 $1600.00 1 $1622.40 2 $1645.11 3 $1668.14 4 $1691.49 5 $1715.17 (a) How much money was originally invested? $ (b) Show that the data are exponential. (Round your answer to three decimal places.) Each successive ratio of new/old is , which shows that the data is exponential. Find an exponential model for the account balance. (Let t be the time in months and B the savings balance in dollars. Round your parameters to three decimal places.) B(t) =
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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You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months.
| Time in months |
Savings balance |
|---|---|
| 0 | $1600.00 |
| 1 | $1622.40 |
| 2 | $1645.11 |
| 3 | $1668.14 |
| 4 | $1691.49 |
| 5 | $1715.17 |
(a) How much money was originally invested?
$
(b) Show that the data are exponential. (Round your answer to three decimal places.)
Find an exponential model for the account balance. (Let t be the time in months and B the savings balance in dollars. Round your parameters to three decimal places.)
$
(b) Show that the data are exponential. (Round your answer to three decimal places.)
Each successive ratio of new/old is , which shows that the data is exponential.
Find an exponential model for the account balance. (Let t be the time in months and B the savings balance in dollars. Round your parameters to three decimal places.)
B(t) =
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