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(2) The annual net profit for a company, from 1995 to 2005, can be approximated by the model an = 10e0.2n, n = 1, 2, 3, ., N, where a, is the annual net profit in millions of dollars, and n represents the year, with n = 1 corresponding to 1995. Estimate the total net profit during this period.

(2) The annual net profit for a company, from 1995 to 2005, can be approximated by the model an = 10e0.2n, n = 1, 2, 3, ., N, where a, is the annual net profit in millions of dollars, and n represents the year, with n = 1 corresponding to 1995. Estimate the total net profit during this period.

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.2: Arithmetic Sequences
Problem 67E
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(2) The annual net profit for a company, from 1995 to 2005, can be approximated by the model an 10e0.2n, n = 1, 2, 3, ., N, where an is the annual net profit in millions of dollars, and n represents the year, with n =1 corresponding to 1995. Estimate the total net profit during this period. (3) A deposit of 15 dollars is made at the beginning of each month, for a period of 5 years, in an account that pays 0.9 % interest, compounded monthly. Find the balance in the account at the end of the 5 years. (4) A deposit of 20 dollars is made every 3 months, for a period of 10 years, in an account that pays 1% interest, compounded quarterly. Find the balance in the account at the end of the 10 years. (5) A deposit of $500 can be made with two options: earn 2% interest, compounded quarterly for 3 years, or earn 1.5%, compounded monthly for 3 years. Find the balance after 3 years of both options.
Transcribed Image Text:(2) The annual net profit for a company, from 1995 to 2005, can be approximated by the model an 10e0.2n, n = 1, 2, 3, ., N, where an is the annual net profit in millions of dollars, and n represents the year, with n =1 corresponding to 1995. Estimate the total net profit during this period. (3) A deposit of 15 dollars is made at the beginning of each month, for a period of 5 years, in an account that pays 0.9 % interest, compounded monthly. Find the balance in the account at the end of the 5 years. (4) A deposit of 20 dollars is made every 3 months, for a period of 10 years, in an account that pays 1% interest, compounded quarterly. Find the balance in the account at the end of the 10 years. (5) A deposit of $500 can be made with two options: earn 2% interest, compounded quarterly for 3 years, or earn 1.5%, compounded monthly for 3 years. Find the balance after 3 years of both options.
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