Concept explainers
Reminder Round all answers to two decimal places unless otherwise indicated.
An Investment You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months.
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a. How much money was originally invested?
b. Show that the data are exponential and find an exponential model for the account balance.
c. What is the monthly interest rate?
d. What is the yearly interest rate?
e. Suppose that you made this investment on the occasion of the birth of your daughter. Your plan is to leave the money in the account until she starts college at age 18. How large a college fund will she have?
f. How long does it take your money to double in value? How much longer does it take it to double in value again?
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
- Reminder Round all answers to two decimal places unless otherwise indicated. Account Growth The table below shows the balance B in a savings account, in dollars, in terms of time t, measured as the number of years since the initial deposit was made. Time t Balance B 0 125.00 1 131.25 2 137.81 3 144.70 4 151.94 a. Was the yearly interest rate constant over the first 4 years? If so, explain why and find that rate. If not, explain why not. Round the ratios to two decimal places. b. Estimate B(2.75) and explain in practical terms what your answer means. Assume that interest is compounded and deposited continuously.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Population Growth A population of animals is growing exponentially, and an ecologist has made the following table of the population size, in thousands, at the start of the given year. Year Population, in thousands 2011 5.25 2012 5.51 2013 5.79 2014 6.04 2015 6.38 2016 6.70 Looking over the table, the ecologist realizes that one of the entries for population size is in error. Which entry is it, and what is the correct population? Round the ratios to two decimal places.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Credit Card Payments You make one charge to a new credit card, but then charge nothing else and make the minimum payment each month. You can't find all of your statements, but the accompanying table shows, for those that you do have, your balance B in dollars, after you made n payments. Payment n 2 4 7 11 Balance B 478.73 440.74 389.33 329.99 a. Use regression to find an exponential for the data in the table. Round the decay factor to four decimal places. b. What was your initial charge? c. For such a payment scheme, the decay factor equals (1+r)(1m). Here r is the monthly finance charge as a decimal, and m is the minimum payment as a percentage of the new balance when expressed as a decimal. Assume that your minimum payment is 5, so m=0.05. Use the decay factor in your model to determine your monthly finance charge.arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. World Copper Production World production of copper, in millions of tons per year, from 1900 to 2000 is given by C=0.51.033t, where t is the time in years since 1900. a.What production level does this model give for the year 2000? b.If this model were extended to 2025, how could you use your knowledge of copper production in 2024 to estimate copper production in 2025?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Inflation The yearly inflation rate tells the percentage by which prices increase. For example, from 1990 through 2000, the inflation rate in the United States remained stable at amount 3 per year. In 1990, an individual retired on a fixed income of 36,000 per year. Assuming that the inflation rate remains at 3, determine how long it will take for the retirement income to deflate to half its 1990 value. Note: To say that retirement income has deflated to half its 1990 value means that prices have doubled.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Defense SpendingData about recent federal defense spending are given in the accompanying Statistical Abstract of the United States table. Here t denotes the time, in years, since 1990 and D denotes federal defense spending, in billions of dollars. a.Calculate the average yearly rate of change in defense spending from 1990 to 1995. b.Use your answer from part a to estimate D(3), and explain what it means. t= Years since 1990 D= Spending billions of dollars 0 328.4 5 310.0 10 341.5 15 565.5 20 843.8 c.Calculate the average yearly rate of change in defense spending from 2005 to 2010. d.Use your answer form part c to estimate the value of D(22).arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. Insect ControlDDT dichlorodiphenyltrichloroethane was used extensively from 1940 to 1970 as an insecticide. It still sees limited use for control of disease. But DDT was found to be harmful to plants and animals, including humans, and its effects were found to be lasting. The amount of time that DDT remains in the environment depends on many factors, but the following table shows what can be expected of 100 kilograms of DDT that has seeped into the soil. t=time,inyearssinceapplication D=DDTremaining,inkilograms 0 100.00 1 95.00 2 90.25 3 85.74 a. Show that the data are exponential. b. Make a model of D as an exponential function of t. c. What is the half-life of DDT in the soil? That is, how long will it be before only 50 kilograms of DDT remain?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. t is measured in thousands of years, and C=C(t) is the amount, in grams, of carbon-14 remaining. Carbon-14 unstable radioactive t=Thousandofyears C=Gramsremaining 0 5 5 2.73 10 1.49 15 0.81 20 0.44 a. What is the average yearly rate of change of carbon-14 during the first 5000 years? b. How many grams of carbon-14 would you expect to find remaining after 1236 years? c. What would you expect to be the limiting value of C?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Quarterly Pine Pulpwood PricesIn southwest Georgia, the average pine pulpwood prices vary predictably over the course of the year, primarily because of weather. Prices in 2009 followed this pattern. At the beginning of the first quarter, the average price P was 9 per ton. During the first quarter, prices declined steadily to 8 per ton, then remained steady at 8 per ton through the end of the third quarter. During the fourth quarter, prices increased steadily from 8 to 10 per ton. a.Sketch a graph of pulpwood prices as a function of the quarter in the year. b.What formula for price P as a function of t, the quarter, describes the price from the beginning of the year through the first quarter? c.What formula for price P as a function of t, the quarter, describes the price from the first to the third quarter? d.What formula for price P as a function of t, the quarter, describes the price from the third to the fourth quarter? e.Write a formula for price P throughout the year as a piecewise-defined function of t, the quarter.arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. Moores Law The speed of a computer chip is closely related to the number of transistors on the chip, and the number of transistors on a chip has increased with time in a remarkably consistent way. In fact, in the year 1965, Dr. Gordon E. Moore now chairman emeritus of Intel Corporation observed a trend and predicted that it would continue for a time. His observation, now known as Moores law, is that every two years or so a chip is introduced with double the number of transistors of its fastest predecessor. This law can be restated in the following way: If time increases by 1year, then the number of transistors is multiplied by 100.15.More generally, the rule is that if time increases by tyears, then the number of transistors is multiplied by 100.15t.For example, after 8years, the number of transistors is multiplied by 100.158, or about 16. The 6th generation Core processor was released by Intel Corporation in the year 2015. a.If a chip were introduced in the year 2022, how many times the transistors of the 6th generation Core would you expect it to have? Round your answer to the nearest whole number. b.The limit of conventional computing will be reached when the size of a transistors on a chip will be 200 times that of the 6th generation Core. When, according to Moores law, will that limit be reached? c.Even for unconventional computing, the law of physics impose a limit on the speed of computation. The fastest speed possible corresponds to having about 1040 times the number of transistors as on the 6th generation Core. Assume that Moores law will continue to be valid even for unconventional computing, and determine when this limit will be reached. Round your answer to the nearest century.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. New Construction The following table shows the value B, in billions of dollars, of new construction put in place in the United States during the year t. t=Year B=Value billions of dollars 2000 831.1 2003 891.5 2006 1167.6 2009 935.6 a. Make a table showing, for each of the 3-year periods, the average yearly rate of change in B. b. Explain in practical terms what B(2008) means, and estimate its value. c. Over what period was the growth in value of new construction the greatest? d. According to the table, in what year was the value of new construction the greatest?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. The Fukushima Disaster On March 11, 2011, Japan suffered an earthquake and tsunami that caused a disastrous accident at the Fukushima nuclear power plant. Among many other results, amounts of iodine-131 that were 27 times the government limit were found in a sample of spinach 60 miles away?' Now, 27 times the government limit of iodine-131 is 54 thousand becquerels per kilogram." The following table shows the amount I, in thousands of becquerels per kilogram, of iodine-131 that would remain after t days. t=time,indays I=amountofiodine-131 0 54.00 1 49.52 2 45.41 3 41.64 4 38.18 a. Show that the data are exponential. In this part and the next, round to three decimal places b. Find an exponential model that shows the amount of iodine-131 present after t days. c. How long will it take for the amount of iodine-131 to fall to the government limit of 2 thousand becquerels per kilogram? Round your answer to the nearest whole day.arrow_forward
- Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning