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The projected value of an investment is modeled by the exponential function V(t) = 25,000(1.115)t, where V(t) is the total value after t years. What is the percent increase each year for the investment?

The projected value of an investment is modeled by the exponential function V(t) = 25,000(1.115)t, where V(t) is the total value after t years. What is the percent increase each year for the investment?

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter4: Exponential Functions
Section4.2: Constant Percentage Change
Problem 5SBE: Round each percentage increase or decrease that you calculate to the nearest tenth of a percent....
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Instructions: Interpret the function given in the context of the real-world situation described to answer the question. Interpreting The projected value of an investment is modeled by the exponential function V(t) = 25,000(1.115), where V(t) is the total value after t years. What is the percent increase each year for the investment? Check % Interpreting
Transcribed Image Text:Instructions: Interpret the function given in the context of the real-world situation described to answer the question. Interpreting The projected value of an investment is modeled by the exponential function V(t) = 25,000(1.115), where V(t) is the total value after t years. What is the percent increase each year for the investment? Check % Interpreting
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