78. Compound interest. If $1000 is invested at interest rate r, compounded annually, in 3 yr it will grow to an amount A given by (see Section R.1) A = $1000(1 + r)3. a) Find the rate of change, dA/dr. b) Interpret the meaning of dA/dr.
78. Compound interest. If $1000 is invested at interest rate r, compounded annually, in 3 yr it will grow to an amount A given by (see Section R.1) A = $1000(1 + r)3. a) Find the rate of change, dA/dr. b) Interpret the meaning of dA/dr.
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CT: Chapter Test
Problem 11CT
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