Child Performance of Investments Over the Course of the Competition Michelle $2000 earned 3.5% annual interest compounded monthly $1000 grew, compounded continuously at rate of 1.8% annually Kristen $2500 earned 1.2% annual interest compounded quarterly $500 increase in value at a rate of 2.25% compounded quarterly Gabriella $3000 grew, compounded continuously at rate of 3.2% annually Judy $1050 earned exponentially at a rate of 1.5% annually $1950 earned 2.8% annual interest compounded biannually (twice a year)
Child Performance of Investments Over the Course of the Competition Michelle $2000 earned 3.5% annual interest compounded monthly $1000 grew, compounded continuously at rate of 1.8% annually Kristen $2500 earned 1.2% annual interest compounded quarterly $500 increase in value at a rate of 2.25% compounded quarterly Gabriella $3000 grew, compounded continuously at rate of 3.2% annually Judy $1050 earned exponentially at a rate of 1.5% annually $1950 earned 2.8% annual interest compounded biannually (twice a year)
Trigonometry (MindTap Course List)
10th Edition
ISBN:9781337278461
Author:Ron Larson
Publisher:Ron Larson
Chapter5: Exponential And Logarithmic Functions
Section5.5: Exponential And Logarithmic Models
Problem 11E
Related questions
Question
Mrs Galicia gave her sisters $3000 each to invest. Each investment will last 8 years. The table shows linked shows what each sister did with their investment and how it changed over 8 years. Please use the chart to answer the following questions
1. What is the balance of Michelle's $3000 after 8 years?
2. What is the balance of Kristen's $3000 after 8 years?
3. What is the balance of Gabriella's $3000 after 8 years?
4. What is the balance of Judy's $3000 after 8 years?
5. Who has the most money at the end of the 8 years?
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 2 steps
Recommended textbooks for you
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage