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For Exercises 61-70, use the model
69. If $4000 is put aside in a money market account with interest compounded continuously at 2.2%, find the time required for the account to earn $1000. Round to the nearest month.
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- About the size of New Jersey, Israel has seen its population soar to more than 6 million since it was established. The graphs show that by 2050, Palestinians in the West Bank, Gaza Strip, and East Jerusalem will outnumber Israelis. a. In 2000, the population of Israel was approximately6.04 million and by 2050 it is projected to grow to 10 million.Use the exponential growth model A = A0ekt, in whicht is the number of years after 2000, to find an exponentialgrowth function that models the data.b. In which year will Israel’s population be 9 million?arrow_forwardAbout the size of New Jersey, Israel has seen its population soar to more than 6 million since it was established. The graphs show that by 2050, Palestinians in the West Bank, Gaza Strip, and East Jerusalem will outnumber Israelis. a. In 2000, the population of the Palestinians in the West Bank, Gaza Strip, and East Jerusalem was approximately 3.2 million and by 2050 it is projected to grow to 12 million.Use the exponential growth model A = A0ekt, in which t is the number of years after 2000, to find the exponentialgrowth function that models the data.b. In which year will the Palestinian population be 9 million?arrow_forwardSuppose you invest $14,000 at age 25 and want the investment to be worth $25,000 when you turn 35. If the interest compounds continuously, what rate of growth will you need to achieve your goal? Round to 2 decimal places.arrow_forward
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