The value of a mutual fund as a function of time is given by: V (t) = 8500e0.045t (a) Calculate the average value of the fund over its first ten years. Write your final answer as a decimal value rounded to two decimal places. (b) Does the fund's value ever equal the average value calculated in part (a)? Answer simply “Yes" or "No", and justify your answer without solving an equation. Hint: Name a theorem that applies, and tell me why it applies.
The value of a mutual fund as a function of time is given by: V (t) = 8500e0.045t (a) Calculate the average value of the fund over its first ten years. Write your final answer as a decimal value rounded to two decimal places. (b) Does the fund's value ever equal the average value calculated in part (a)? Answer simply “Yes" or "No", and justify your answer without solving an equation. Hint: Name a theorem that applies, and tell me why it applies.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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Transcribed Image Text:The value of a mutual fund as a function of time is given by:
V (t) = 8500e0.045t
(a) Calculate the average value of the fund over its first ten years. Write your final answer as
a decimal value rounded to two decimal places.
(b) Does the fund's value ever equal the average value calculated in part (a)?
Answer simply “Yes" or "No", and justify your answer without solving an equation.
Hint: Name a theorem that applies, and tell me why it applies.
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