EBK PRECALCULUS W/LIMITS
4th Edition
ISBN: 9781337516853
Author: Larson
Publisher: CENGAGE CO
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Question
Chapter 3.5, Problem 18E
To determine
To find : the graph of data found relating the rate of interest and time required for investment to Triple for both compound continuously and annually.
Expert Solution & Answer
Answer to Problem 18E
The equation relating the rate of interest (r) and time (t) in years:
For investment compounded continuously is given by:
For investment compounded annually is given by:
Explanation of Solution
Given information : Annual rate of interest is given by r & time (number of years) is given by t.
The completed table for time t (in years) necessary for P dollars to triple when it is invested at an interest rate r compounded continuously is given below:
| r | ||||||
| t (in years) | 54.93 | 27.47 | 18.31 | 13.73 | 10.99 | 9.16 |
The completed table for time t (in years) necessary for P dollars to triple when it is invested at an interest rate r compounded annually is given below:
| r | ||||||
| t (in years) | 55.48 | 28.01 | 18.85 | 14.27 | 11.53 | 9.69 |
Concept Involved:
We need to make us of the below steps to graph the set of data given in the calculator
| Steps | Description |
| Enter the data into the lists. For basic entry of data, see Basic Commands. |
| Steps | Description |
| Go to STATPLOT (2nd Y=) and choose the first plot. Turn the plot ON, set the icon to Scatter Plot (the first one), set Xlist to L1 and Ylist to L2 (assuming that is where you stored the data), and select a Mark of your choice. | |
| Press STAT, arrow right to CALC, and arrow down to A: PwrReg. Hit ENTER. When PwrReg appears on the home screen, type the parameters L1, L2, Y1. The Y1 will put the equation into Y= for you. (Y1 comes from VARS ? YVARS, #Function, Y1) | |
| Graph the Power Regression Equation from Y1. ZOOM #9 ZoomStat to see the graph. |
Graph:
Interpretation:
The equation relating the rate of interest (r) and time (t) in years for investment compounded continuously is given by:
The equation relating the rate of interest (r) and time (t) in years for investment compounded annually is given by:
Chapter 3 Solutions
EBK PRECALCULUS W/LIMITS
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Calculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. Freeman
Calculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning
Calculus: Early Transcendentals
Calculus
ISBN:9781285741550
Author:James Stewart
Publisher:Cengage Learning
Thomas' Calculus (14th Edition)
Calculus
ISBN:9780134438986
Author:Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:9780134763644
Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:PEARSON
Calculus: Early Transcendentals
Calculus
ISBN:9781319050740
Author:Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:W. H. Freeman
Calculus: Early Transcendental Functions
Calculus
ISBN:9781337552516
Author:Ron Larson, Bruce H. Edwards
Publisher:Cengage Learning
Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY