You deposit $1000 in an account with an annual interest rate of r (in decimal form) compounded monthly. At the end of 5 years, the balance A is A = 1000  1 +  r 12   60  . Find the rates of change of A with respect to r when  r = 0.09,   r = 0.12,  and  r = 0.15.  (Round your answer to two decimal places.) (a) r = 0.09 $  per 100 percentage points (b) r = 0.12 $  per 100 percentage points (c) r = 0.15  $  per 100 percentage points

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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You deposit $1000 in an account with an annual interest rate of r (in decimal form) compounded monthly. At the end of 5 years, the balance A is
A = 1000
 
1 + 
r
12
  60
 
.
Find the rates of change of A with respect to r when 
r = 0.09,
 
r = 0.12,
 and 
r = 0.15.
 (Round your answer to two decimal places.)
(a)
r = 0.09
$  per 100 percentage points
(b)
r = 0.12
$  per 100 percentage points
(c)
r = 0.15 
$  per 100 percentage points
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