An investment worth $1 million in 2005 has been growing at a rate of f(t) = 0.148(1.18t) million dollars per year where t is the number of years since 2005. (a) Calculate how much the investment will have grown between 2005 and 2017. (Round your answer to three decimal places.) How much is it projected to grow between 2017 and 2022? (Round your answer to three decimal places.) (b) Recover the function for the model that gives future value of an investment in million dollars t years since 2005.
An investment worth $1 million in 2005 has been growing at a rate of f(t) = 0.148(1.18t) million dollars per year where t is the number of years since 2005. (a) Calculate how much the investment will have grown between 2005 and 2017. (Round your answer to three decimal places.) How much is it projected to grow between 2017 and 2022? (Round your answer to three decimal places.) (b) Recover the function for the model that gives future value of an investment in million dollars t years since 2005.
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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An investment worth $1 million in 2005 has been growing at a rate of f(t) = 0.148(1.18t) million dollars per year where t is the number of years since 2005.
(a) Calculate how much the investment will have grown between 2005 and 2017. (Round your answer to three decimal places.)
How much is it projected to grow between 2017 and 2022? (Round your answer to three decimal places.)
(b) Recover the function for the model that gives future value of an investment in million dollars t years since 2005.
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Given that an investment worth $1 million in 2005 has been growing at a rate of f(t) = 0.148(1.18)t million dollars per year where t is the number of years since 2005.
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