Concept explainers
For Exercises 61-70, use the model
66. $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to double? Round to the nearest tenth of a year.
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- (a) The real estate prices within one state have been increasing at an average rate of 8% per year. How long it will take for the current prices to increase by 100 percent if the prices continue to increase at the same rate? [02] (b) Sales of personal computers coasting less than $5000 were estimated to equals $2500 million in 2010. One analyst estimates that sales will grow at a rate of 25% per year over the next 10 years. Predict the annual sales for the year 2015? [02]arrow_forward12) According to the US Department of Education, enrollment in teacher preparations programs in Arizona has plunged 42% to 418,573 in 2014 from 6 years earlier. A) Define an exponential function that determines the enrollment in teacher prep programs as a function of time. Define all variables. B) By what percent is enrollment changing every two years? C) If this trend continues, in what year would we expect enrollment to reach only 100,000? Solve algebraically.arrow_forwardSuppose you make an investment of $1000 that you are not allowed to cash in for 50 years. Unfortunately, the value of the investment decreases by 10% per year.How long will it be before your investment decreases to half its original value? Round your answer to one decimal place.arrow_forward
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- The exponential growth models, A = 33.1e0.009t (Canada) and A = 28.2e0.034t (Uganda) describe the population of the indicated country, A, in millions, t years after 2006. Use this information to determine whether the statement is true or false: "By 2009, the models indicate that Canada’s population willexceed Uganda’s by approximately 2.8 million". If the statement is false, make the necessary change(s) to produce a true statement.arrow_forwardA bird species in danger of extinction has a population that is decreasing exponentially (A = A0ekt). Five years ago, the population was at 1400 and today only 1000 of the birds are alive. Once the population drops below 100, he situation will be irreversible. When will this happen? c. In which year will the Hispanic resident population reach 70 million?arrow_forward
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