Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN: 9781337111348
Author: Bruce Crauder, Benny Evans, Alan Noell
Publisher: Cengage Learning
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Chapter 6.4, Problem 4E
To determine
The account balance expected
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Ch. 6.1 - ReminderRound all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...Ch. 6.1 - Reminder Round all answers to two decimal places...
Ch. 6.1 - Prob. 11ECh. 6.1 - Prob. 12ECh. 6.1 - Velocity What is the rate of change in directed...Ch. 6.1 - Sign of VelocityWhen directed distance is...Ch. 6.1 - Sign of VelocityWhen the graph of directed...Ch. 6.1 - Constant VelocityWhen velocity is constant, what...Ch. 6.1 - Constant Velocity When the graph of directed...Ch. 6.1 - Prob. 6SBECh. 6.1 - Prob. 7SBECh. 6.1 - Prob. 8SBECh. 6.1 - Prob. 9SBECh. 6.1 - Prob. 10SBECh. 6.1 - Change in Direction A graph of directed distance...Ch. 6.1 - Prob. 12SBECh. 6.2 - Prob. 1ECh. 6.2 - Reminder Round all answers to two decimal places...Ch. 6.2 - Reminder Round all answers to decimal places...Ch. 6.2 - Reminder Round all answers to decimal places...Ch. 6.2 - Reminder Round all answers to decimal places...Ch. 6.2 - Reminder Round all answers to decimal places...Ch. 6.2 - Reminder Round all answers to decimal places...Ch. 6.2 - Prob. 8ECh. 6.2 - Reminder Round all answers to decimal places...Ch. 6.2 - Prob. 10ECh. 6.2 - Prob. 11ECh. 6.2 - ReminderRound all answers to two decimal places...Ch. 6.2 - Reminder Round all answers to two decimal places...Ch. 6.2 - ReminderRound all answers to two decimal places...Ch. 6.2 - Prob. 15ECh. 6.2 - Prob. 16ECh. 6.2 - Prob. 17ECh. 6.2 - Prob. 18ECh. 6.2 - SKILL BUILDING EXERCISES Marginal Cost: Let C(n)...Ch. 6.2 - SKILL BUILDING EXERCISES Marginal Profit: Your...Ch. 6.2 - SKILL BUILDING EXERCISES Buying for the Short...Ch. 6.2 - SKILL BUILDING EXERCISES Buying a company: You are...Ch. 6.2 - Meaning Of Rate Change: What is the common term...Ch. 6.2 - A Mathematical Term: If f=f(x), then we use dfdx...Ch. 6.2 - Sign of the Derivative: Suppose f=f(x). What is...Ch. 6.2 - Prob. 8SBECh. 6.2 - Prob. 9SBECh. 6.2 - Prob. 10SBECh. 6.2 - Prob. 11SBECh. 6.2 - Prob. 12SBECh. 6.2 - Prob. 13SBECh. 6.2 - Prob. 14SBECh. 6.2 - Prob. 15SBECh. 6.2 - Prob. 16SBECh. 6.3 - ReminderRound all answers to two decimal places...Ch. 6.3 - ReminderRound all answers to two decimal places...Ch. 6.3 - Reminder Round all answers to two decimal places...Ch. 6.3 - Reminder Round all answers to two decimal places...Ch. 6.3 - ReminderRound all answers to two decimal places...Ch. 6.3 - ReminderRound all answers to two decimal places...Ch. 6.3 - ReminderRound all answers to two decimal places...Ch. 6.3 - Prob. 8ECh. 6.3 - Prob. 9ECh. 6.3 - Prob. 10ECh. 6.3 - ReminderRound all answers to two decimal places...Ch. 6.3 - Prob. 12ECh. 6.3 - Rate of Change for a Linear Function If f is the...Ch. 6.3 - Rate of Change for a Linear Function If f is the...Ch. 6.3 - Rate of Change from Data Suppose f=f(x) satisfies...Ch. 6.3 - Rate of Change from Data Suppose f=f(x) satisfies...Ch. 6.3 - Prob. 5SBECh. 6.3 - Prob. 6SBECh. 6.3 - Estimating Rates of Change By direct calculation,...Ch. 6.3 - Estimating Rates of Change with the CalculatorMake...Ch. 6.3 - Prob. 9SBECh. 6.3 - Prob. 10SBECh. 6.3 - Prob. 11SBECh. 6.3 - Prob. 12SBECh. 6.3 - Prob. 13SBECh. 6.3 - Prob. 14SBECh. 6.4 - ReminderRound all answers to two decimal places...Ch. 6.4 - Reminder Round all answers to two decimal places...Ch. 6.4 - Reminder Round all answers to two decimal places...Ch. 6.4 - Prob. 4ECh. 6.4 - Prob. 5ECh. 6.4 - Prob. 6ECh. 6.4 - Prob. 7ECh. 6.4 - Prob. 8ECh. 6.4 - Prob. 9ECh. 6.4 - Prob. 10ECh. 6.4 - Prob. 11ECh. 6.4 - Prob. 12ECh. 6.4 - Prob. 13ECh. 6.4 - Prob. 14ECh. 6.4 - Prob. 1SBECh. 6.4 - Prob. 2SBECh. 6.4 - Prob. 3SBECh. 6.4 - New Equation of Change? The tax liability T in...Ch. 6.4 - Prob. 5SBECh. 6.4 - Prob. 6SBECh. 6.4 - Prob. 7SBECh. 6.4 - Prob. 8SBECh. 6.4 - Prob. 9SBECh. 6.4 - Prob. 10SBECh. 6.4 - A Leaky BalloonA balloon leaks air changes volume...Ch. 6.4 - Prob. 12SBECh. 6.4 - Solving an Equation of Change Solve the equation...Ch. 6.4 - Prob. 14SBECh. 6.4 - Filling a Tank The water level in a tank rises...Ch. 6.4 - Solving an Equation of Change Solve the equation...Ch. 6.5 - Reminder Round all answers to two decimal places...Ch. 6.5 - Prob. 2ECh. 6.5 - Prob. 3ECh. 6.5 - Prob. 4ECh. 6.5 - Prob. 5ECh. 6.5 - Prob. 6ECh. 6.5 - Prob. 7ECh. 6.5 - Prob. 8ECh. 6.5 - Prob. 9ECh. 6.5 - Prob. 10ECh. 6.5 - Prob. 11ECh. 6.5 - Prob. 12ECh. 6.5 - Prob. 13ECh. 6.5 - Prob. 1SBECh. 6.5 - Prob. 2SBECh. 6.5 - Prob. 3SBECh. 6.5 - Prob. 4SBECh. 6.5 - Prob. 5SBECh. 6.5 - Prob. 6SBECh. 6.5 - WaterWater flows into a tank, and a certain part...Ch. 6.5 - Prob. 8SBECh. 6.5 - Prob. 9SBECh. 6.5 - Prob. 10SBECh. 6.5 - Prob. 11SBECh. 6.5 - Prob. 12SBECh. 6.5 - Equation of ChangeFor the equation of change...Ch. 6.5 - Prob. 14SBECh. 6.CR - Prob. 1CRCh. 6.CR - Prob. 2CRCh. 6.CR - Prob. 3CRCh. 6.CR - Prob. 4CRCh. 6.CR - Prob. 5CRCh. 6.CR - Prob. 6CRCh. 6.CR - Prob. 7CRCh. 6.CR - Prob. 8CRCh. 6.CR - Prob. 9CRCh. 6.CR - Prob. 10CRCh. 6.CR - Prob. 11CRCh. 6.CR - Prob. 12CRCh. 6.CR - Prob. 13CRCh. 6.CR - Prob. 14CRCh. 6.CR - Prob. 15CRCh. 6.CR - Prob. 16CRCh. 6.CR - Prob. 17CRCh. 6.CR - Prob. 18CRCh. 6.CR - Reminder Round all answers to two decimal places...Ch. 6.CR - Prob. 20CR
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- Reminder Round all answers to two decimal places unless otherwise indicated. APR and APY Recall that financial institutions sometimes report the annual interest rate that they offer on investments as the APR, often called the nominal interest rate. To indicate how an investment will actually grow, they advertise the annual percentage yield, or APY. In mathematical terms, this is the yearly percentage growth rate for the exponential function that models the account balance. In this exercise and the next, we study the relationship between the APR and the APY. We assume that the APR is 10 or 0.1 as a decimal. To determine the APY when we know the APR, we need to know how often interest is compounded. For example, suppose for the moment that interest is compounded twice a year. Then to say that the APR is 10 means that in half a year, the balance grows by 102 or 5. In other words, the 12-year age growth rate is 0.12 as a decimal. Thus, the 12-year growth factor is 1+0.12. To find the yearly growth factor, we need to perform a unit conversion: One year is 2 half-year periods, so the yearly growth factor is (1+0.12)2, or 1.1025. a. What is the yearly growth factor if interest is compounded four times a year? b. Assume that interest is compounded n times each year. Explain why the formula for the yearly growth factor is (1+0.1n)n. c. What is the yearly growth factor if interest is compounded daily? Give your answer to four decimal places/arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Mittenwalde Is Rich In 1562, the town of Mittenwalde lent Berlin 400 guilders repayable at 6 per year. The debt has yet to be repaid. a.Assuming that interest is compounded annually, how much in trillions of guilders did Berlin owe to Mittenwalde in 2012? b.We take the value of a 1562 guilder to be about 0.45 dollar. In trillions of dollars, how much was Berlins debt in 2012? c.Do you think it likely that Mittenwalde will ever collect from Berlin?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. How Fast Do Exponential Functions Grow? At age 25, you start to work for a company and are offered two rather fanciful retirement options. Retirement Option 1 When you retire, you will be paid a lump sum of 25,000 for each year of service. Retirement Option 2 When you start to work, the company will deposit 10,000 into an account that pays a monthly interest rate of 1. When you retire, the account will be closed and the balance given to you. Which retirement option is more favorable to you if you retire at age 65? Which retirement option is more favorable if you retire at age 55?arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. Gold Prices During the period from 2003 through 2010, gold prices doubled every 3years approximately. a.What was the yearly growth factor for the price of gold during this period? b.Explain in practical terms the meaning of the growth factor you found in part a.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Note Some of the formulas below use the special number e, which was presented in the Prologue. What if Interest is Compounded More Often than Monthly?Some lending institutions compound interest daily or even continuously. The term continuous compounding is used when interest is being added as often as possible-that is, at each instant in time. The point of this exercise is to show that, for most consumer loans, the answer you get with monthly compounding is very close to the right answer, even if the lending institution compounds more often. In part 1 of Example 1.2, we showed that if you borrow 7800 from an institution that compounds monthly at a monthly interest rate of 0.67 for an APR of 8.04 , then in order to pay off the note in 48months, you have to make a monthly payment of 190.57. a.Would you expect your monthly payment to be higher or lower if interest were compounded daily rather than monthly? Explain why. b.Which would you expect to result in a larger monthly payment, daily compounding or continuous compounding? Explain your reasoning. c.When interest is compounded continuously, you can calculate your monthly payment M=M(P,r,t) in dollars, for a loan of Pdollars to be paid off over t months using M=P(er1)1ert, where r=APR/12 if the APR is written in the decimal form. Use this formula to calculate the monthly payment on a loan of 7800 to be paid off over 48months with an APR of 8.04. How does this answer compare the result in Example 1.2?arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Long-Term Population Growth Although exponential growth can often be used to model population growth accurately for some periods of time, there are inevitably, in the long term, limiting factors that make purely exponential models inaccurate. From 1790 to 1860, the U.S. population could be modeled by N=3.931.03tmillion people, where t is the time in years since 1790. If this exponential growth rate had continued until today, what would be the population of the United States have been in 2015? Compare your answer with the actual population of the United States in 2015, which was about 323million.arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. U.S Investment Abroad In 1980, direct U.S. business investment abroad was about 13.5 billion dollars. From 1980 through 2010, that investment grew at an average annual rate of 11.24. a.Make an exponential model that shows the U.S. direct investment aboard A, in billions of dollars, t years after 1980. b.From 1980, how long did it take for U.S. investments abroad to double? c.According to the model, how long would it take from 2010 for investments abroad to double the level present in 2010?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. Continuous CompoundingThis is a continuation of Exercise 22. In this exercise, we examine the relationship between APR and the APY when interest is compounded continuously-in other words, at every instant. We will see by means of an example that the relationship is Yearlygrowthfactor=eAPR,(4.1) and so APY=eAPR1(4.2) if both the APR and the APY are in decimal form and interest is compounded continuously. Assume that the APR is 10, or 0.1 as a decimal. a.The yearly growth factor for continuous compounding is just the limiting value of the function given by the formula in part b of Exercise 22. Find that limiting value to four decimal places. b.Compute eAPR with an APR of 0.1 as a decimal. c.Use your answers to parts a and b to verify that Equation 4.1 holds in the case where the APR is 10. Note: On the basis of part a, one conclusion is that there is a limit to the increase in the yearly growth factor and hence in the APY as the number of compounding periods increases. We might have expected the APY to increase without limit for more and more frequent compounding. 22. APR and APYRecall that financial institutions sometimes report the annual interest rate that they offer on investments as the APR, often called the nominal interest rate. To indicate how an investment will actually grow, they advertise the annual percentage yield, or APY. In mathematical terms, this is the yearly percentage growth rate for the exponential function that models the account balance. In this exercise and the next, we study the relationship between the APR and the APY. We assume that the APR is 10. or 0.1 as a decimal. To determine the APY when we know the APR, we need to know how often interest is compounded. For example, suppose for the moment that interest is compounded twice a year. Then to say that the APR is 10 means that in half a year, the balance grows by 102 or 5. In other words, the 12-year percentage growth rate is 0.12 as a decimal. Thus, the 12-year growth factor is 1+0.12. To find the yearly growth factor, we need to perform a unit conversion: One year is 2 half-year periods, so the yearly growth factor is (1+0.12)2 or 1.1025. a.What is the yearly growth factor if interest is compounded four times a year? b.Assume that interest is compounded n times each year. Explain why the formula for the yearly growth factor is (1+0.1n)n. c.What is the yearly growth factor if interest is compounded daily? Give your answer to four decimal places.arrow_forward
- Reminder Round all answers to two decimal places unless otherwise indicated. Radioactive Iodine Iodine-131 is a radioactive form of iodine. After the crisis at a Japanese nuclear power plant in March 2011, elevated levels of this substance were detected thousands of miles away from Japan. Iodine-131 has a half-life of 8days. What is the daily decay factor for this substance?arrow_forwardReminderRound all answers to two decimal places unless otherwise indicated. Inflation An economist tracks the price of a certain item at the beginning of several years and compiles the following table. Years Price, in dollars 2013 265.50 2014 273.47 2015 281.67 2016 290.12 a. Show that the price is growing as an exponential function. b. Find an exponential model for the data. c. At the beginning of some year, the price will surpass 325. Use your model to determine which year.arrow_forwardReminder Round all answers to two decimal places unless otherwise indicated. Mobile Phones According to one source, the amount of data passing through mobile phone networks doubles each year. a. Explain why the amount of data passing through mobile phone networks is as exponential function of time. b. Use D0 for the initial amount of data, and find a formula that gives the data D as an exponential function of the time t in years. c. If this trend continues, how long will it be before the amount of data is 100 times its initial value?arrow_forward
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