(a)
To explain : The Jhon Nepier’s answer.
(a)
Answer to Problem 44E
More specifically, money will increase by a factor of roughly
Explanation of Solution
Given information:
An amount of money at
Calculation:
To use the formula:
Put,
See from the calculation that money is more sensitive right now than it was when interest rates were lower. This implies that money will increase over the same period of time.
More specifically, money will increase by a factor of roughly
(b)
To find: The times it take to triple the money.
(b)
Answer to Problem 44E
The answer is:
Explanation of Solution
Given information:
An amount of money at
Calculation:
To use the formula:
Years
Here,
Therefore the required
(c)
To find: The earn in a year.
(c)
Answer to Problem 44E
Earn about
Explanation of Solution
Given information:
An amount of money at
Calculation:
From part a) money will grow by a factor of
Earn about
Chapter 6 Solutions
Advanced Placement Calculus Graphical Numerical Algebraic Sixth Edition High School Binding Copyright 2020
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