# 4334.2 Exponential FunctionsSolve each problem. See Examples 7-9.97. Future Value Find the future value and interest earned if \$8906.54 is invested for9 yr at 3% compounded(a) semiannually(b) continuously.98. Future Value Find the future value and interest earned if \$56,780 is invested at2.8% compounded(a) quarterly for 23 quarters(b) continuously for 15 yr.99. Present Value Find the present value that will grow to \$25,000 if interest is 3.2%compounded quarterly for 11 quarters.100. Present Value Find the present value that will grow to \$45,000 if interest is 3.6%compounded monthly for 1 yr.101. Present Value Find the present value that will grow to \$5000 if interest is 3.5%compounded quarterly for 10 yr.102. Interest Rate Find the required annual interest rate to the nearest tenth of a percentfor \$65,000 to grow to \$65,783.91 if interest is compounded monthly for 6 months.103. Interest Rate Find the required annual interest rate to the nearest tenth of a percentfor \$1200 to grow to \$1500 if interest is compounded quarterly for 9 yr.104. Interest Rate Find the required annual interest rate to the nearest tenth of a percentfor \$5000 to grow to \$6200 if interest is compounded quarterly for 8 yr.Solve each problem. See Example 10.105. Comparing Loans Bank A is lending money at 6.4% interest compounded annu-ally. The rate at Bank B is 6.3% compounded monthly, and the rate at Bank C is6.35% compounded quarterly. At which bank will we pay the least interest?106. Future Value Suppose \$10,000 is invested at an annual rate of 2.4% for 10 yr.Find the future value if interest is compounded as follows.(a) annually(b) quarterly(c) monthly(d) daily (365 days)(Modeling) Solve each problem. See Example 11.107. Atmospheric Pressure The atmospheric pressure (in millibars) at a given altitude(in meters) is shown in the table.AMitudePressureAltitudePressure10136000472100089970004112000795800035730007019000308ea400061710,000ut owon sn265LEEVSCASO00541Source: Miller, A. and J. Thompson, Elements ofMeteorology, Fourth Edition, Charles E. MerrillPublishing Company, Columbus, Ohio.(a) Use a graphing calculator to make a scatter diagram of the data for atmosphericpressure P at altitude x.(b) Would a linear or an exponential function fit the data better?(c) The following function approximates the data.P(x) = 1013e-0.0001341xUse a graphing calculator to graph P and the data on the same coordinate axes.(d) Use P to predict the pressures at 1500 m and 11,000 m, and compare them tothe actual values of 846 millibars and 227 millibars, respectively.

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98.

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Step 1

Given, Present value, interest rate and time in quarterly are

Step 2

Part (a): The formula for Future value and interest are

Step 3

The Amount...

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