Concept explainers
For Exercises 87-90, use the Tangent feature from the DRAW menu to find the rate of change in part (b).
Stock prices. The value (price) of a share of stock in Barrington Gold was $90 on June 15, 2014, and was increasing by 3% every week.
a. Find an exponential model for the value, V, of a share of the stock, in dollars, t weeks after June 15, 2014.
b. What was the rate of change in the value of a share of the stock 6 weeks prior to June 15, 2014?
c. Use the model to estimate the value of a share of the stock 6 week prior to June 15, 2014.
d. How many weeks after June 15, 2014, will the stock’s share value have doubled?
Want to see the full answer?
Check out a sample textbook solutionChapter 3 Solutions
Calculus and Its Applications (11th Edition)
Additional Math Textbook Solutions
Precalculus Enhanced with Graphing Utilities (7th Edition)
Precalculus (10th Edition)
Calculus: Early Transcendentals (3rd Edition)
Calculus, Single Variable: Early Transcendentals (3rd Edition)
Precalculus
Calculus: Early Transcendentals (2nd Edition)
- Explain why the values of an increasing exponentialfunction will eventually overtake the valuesof anincreasing linear function.arrow_forwardThe Oxford Dictionary defines the word nominal asa value that is “stated or expressed but notnecessarily corresponding exactly to the real value.[18]Develop a reasonable argument for why the termnominal rate is used to describe the annual percentagerate of an investment account that compoundsinterest.arrow_forwardGiven a formula for an exponential function, is itpossible to determine whether the function grows ordecays exponentiallyjust by looking at the formula?Explain.arrow_forward
- What happens to an exponential function as the values of x decreases? Will the graph ever cross the y -axis? Explain.arrow_forwardCan the date below be described as exponential growth? Justify your answer by using a graph, an equation, or a logical argument. Can you think of a situation that the data might describe?arrow_forwardA savings account has an initial balance of $1,000 and earns 3 percent interest compounded monthly. Is the balance of the account described by a linear or exponential function?arrow_forward
- A popular social media platform has begun offering stock shares to the public. In the past 2 years, the price of the stock has generally increased. An investment specialist gathers data on the stock price during the past 2 years and creates an exponential model for estimating the stock price based on the number of weeks after the first public offering. Based on the scatterplot and computer output, a reasonable estimate for the stock price for week 95 is: $2.27 because ŷ = 0.0022(95) + 2.0583 = 2.2673. $9.65 because and e2.2673 = 9.6533. $185.05 because and 102.2673 = 185.05. $220.44 because and 102.3433 = 220.44arrow_forwardBased on the exponential model, about how much food is a six-month-old cub predicted to eat per day? 10 pounds 8 pounds 7 pounds 4 poundsarrow_forward
- Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill