a.
To write the inequality that can be used to find the interest rate.
a.
Answer to Problem 62E
Explanation of Solution
Given:
Latasha plans to invest
Calculation:
Using the compound interest formula as follows-
Therefore, the inequality is
b.
To find the lowest interest rate so that she should achieve her goal
b.
Answer to Problem 62E
Explanation of Solution
Given:
Latasha plans to invest
Calculation:
Solving the inequality obtained in part (a) as follows-
Therefore, the lowest rate is
c.
To find the interest rate that will double her money in
c.
Answer to Problem 62E
Explanation of Solution
Given:
Latasha plans to invest
Calculation:
Using the compound interest formula as follows-
Therefore, the interest rate is
Chapter 11 Solutions
Advanced Mathematical Concepts: Precalculus with Applications, Student Edition
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