A real estate investment, originally worth $7000, grows continuously at the rate of 400e0.04t dollars per year, where t is the number of years since the investment was made. (a) Find a formula for the value of the investment after t years. V(t) = (b) Use your formula to find the value (in dollars) of the investment after 10 years. (Round your answer to the nearest whole dollar.)
A real estate investment, originally worth $7000, grows continuously at the rate of 400e0.04t dollars per year, where t is the number of years since the investment was made. (a) Find a formula for the value of the investment after t years. V(t) = (b) Use your formula to find the value (in dollars) of the investment after 10 years. (Round your answer to the nearest whole dollar.)
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
Section4.2: The Natural Exponential Function
Problem 2E
Related questions
Question
100%
A real estate investment, originally worth $7000, grows continuously at the rate of
400e0.04t
dollars per year, where t is the number of years since the investment was made.(a)
Find a formula for the value of the investment after t years.
V(t) =
(b)
Use your formula to find the value (in dollars) of the investment after 10 years. (Round your answer to the nearest whole dollar.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.Recommended textbooks for you
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill