Answer the following parts. (a) Write down a formula for the amount of money you would have in your account after t years if it started at $1000 and the account pays 2.5% annual interest compounded monthly. (b) If you buy a car for $20,000 and it loses half its value every year when will the car be worth $3,000? (c) A population is known to grow exponentially. If it starts at 100 and is 150 after 3 months when will the population be 300?
Answer the following parts. (a) Write down a formula for the amount of money you would have in your account after t years if it started at $1000 and the account pays 2.5% annual interest compounded monthly. (b) If you buy a car for $20,000 and it loses half its value every year when will the car be worth $3,000? (c) A population is known to grow exponentially. If it starts at 100 and is 150 after 3 months when will the population be 300?
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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