stock account started with a value of $95,000 in the year 1995. The value of the account appreciated to $160,000 by the year 2002. i) What was the annual growth rate between 1995 and 2002? Write your answer as a decimal rounded to 4 decimal places. Show all work. Write your answer in a complete sentence form. ii) Assume that the stock value continues to grow by the same percentage. What will the value equal in the year 2005 ? Show all work and any equations you use. Round to the nearest thousand dollars. Write
stock account started with a value of $95,000 in the year 1995. The value of the account appreciated to $160,000 by the year 2002. i) What was the annual growth rate between 1995 and 2002? Write your answer as a decimal rounded to 4 decimal places. Show all work. Write your answer in a complete sentence form. ii) Assume that the stock value continues to grow by the same percentage. What will the value equal in the year 2005 ? Show all work and any equations you use. Round to the nearest thousand dollars. Write
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 63SE: In the year 1985, a house was valued at 110,000. Bythe year 2005, the value hadappreciated to...
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A stock account started with a value of $95,000 in the year 1995. The value of the account appreciated to $160,000 by the year 2002.
i) What was the annual growth rate between 1995 and 2002? Write your answer as a decimal rounded to 4 decimal places. Show all work. Write your answer in a complete sentence form.
ii) Assume that the stock value continues to grow by the same percentage. What will the value equal in the year 2005 ? Show all work and any equations you use. Round to the nearest thousand dollars. Write your answer in a complete sentence form.
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