A lump sum of $1000 is invested at 4.5% compounded continuously. (a) Write the function for the model that gives the future value of the investment in dollars after t years. F(t) dollars (b) Write a model for the rate of change of the value of the investment. (Hint: Let b = e0.045 and use the rule for f(x) = b*.) dollars per year F'(t) = (c) How much is the investment worth after 8 years? (Round your answer to two decimal places.) $ (d) How quickly is the investment growing after 8 years? (Round your answer to three decimal places.) $ per year

A lump sum of $1000 is invested at 4.5% compounded continuously. (a) Write the function for the model that gives the future value of the investment in dollars after t years. F(t) dollars (b) Write a model for the rate of change of the value of the investment. (Hint: Let b = e0.045 and use the rule for f(x) = b*.) dollars per year F'(t) = (c) How much is the investment worth after 8 years? (Round your answer to two decimal places.) $ (d) How quickly is the investment growing after 8 years? (Round your answer to three decimal places.) $ per year

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.7: Exponential And Logarithmic Models

Problem 16TI: Recent data suggests that, as of 2013, the rate of growth predicted by Moore’s Law no longer holds....

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