dA (a) Find dr 2noit dA when 7 2, and interpret your answer. dr (b) Find

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 67SGR
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Question
a Finance An amount of $24,000 is invested in a money market
account with an interest rate of r percent per year, compounded
monthly. At the end of 2 years, the balance on the account is
given by
24
r
A = 24,000( 1 +
1200
%3D
dA
(a) Find
dr
dA
when = 2, and interpret your answer.
dr
(b) Find
Transcribed Image Text:a Finance An amount of $24,000 is invested in a money market account with an interest rate of r percent per year, compounded monthly. At the end of 2 years, the balance on the account is given by 24 r A = 24,000( 1 + 1200 %3D dA (a) Find dr dA when = 2, and interpret your answer. dr (b) Find
Expert Solution
Step 1

By power rule, d/dx (xn) = n . xn-1

By chain rule, d/dx (f(g(x)) = f ' (g(x)) . g'(x)

We use these two rules to find the derivative in part (a).

We just substitute r = 2 in the answer of part (a) to get the answer for part (b).

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