The population of China was about 1.39 billion in the year 2013, with an annual growth rate of about 0.6 % . Thissituation is represented by the growth function P ( t ) = 1.39 ( 1.006 ) t , where tis the number of years since 2013. To thenearest thousandth, what will the population of China be for theyear 2031? How does this compare to the populationprediction we made for India in Example 3?
The population of China was about 1.39 billion in the year 2013, with an annual growth rate of about 0.6 % . Thissituation is represented by the growth function P ( t ) = 1.39 ( 1.006 ) t , where tis the number of years since 2013. To thenearest thousandth, what will the population of China be for theyear 2031? How does this compare to the populationprediction we made for India in Example 3?
The population of China was about
1.39
billion in the year 2013, with an annual growth rate of about
0.6
%
. Thissituation is represented by the growth function
P
(
t
)
=
1.39
(
1.006
)
t
,
where tis the number of years since 2013. To thenearest thousandth, what will the population of China be for theyear 2031? How does this compare to the populationprediction we made for India in Example 3?
Expression, rule, or law that gives the relationship between an independent variable and dependent variable. Some important types of functions are injective function, surjective function, polynomial function, and inverse function.
Jamal wants to save $48,000 for a down payment on a home. How much will he need to invest in an
account with 11.8% APR, compounding daily, in order to reach his goal in 10 years? Round to the
nearest dollar.
r
nt
Use the compound interest formula, A (t) = P(1 + 1)".
An account is opened with an intial deposit of $7,500 and earns 3.8% interest compounded semi-
annually. Round all answers to the nearest dollar.
a. What will the account be worth in 10 years? $
b. What if the interest were compounding monthly? $
c. What if the interest were compounded daily (assume 365 days in a year)? $
Kyoko has $10,000 that she wants to invest. Her bank has several accounts to choose from. Her goal is
to have $15,000 by the time she finishes graduate school in 7 years. To the nearest hundredth of a
percent, what should her minimum annual interest rate be in order to reach her goal assuming they
compound daily? (Hint: solve the compound interest formula for the intrerest rate. Also, assume there
are 365 days in a year)
%
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