Math 4.2 Growth and Decay Applications Solution Key

University:
Morehouse College
Course:
HMAT 162 | Calculus II
Academic year:

2019
Views:

369

Pages:

5
Author:

CometConductor

Advanced Math Exponential Decay (Annually) Exponential Growth (Annually) I Name Section 4.2 Applications Exponential Growth/Decay -t f\ ::: P ( I - r J Continuous Compounding Interest Formula Compound Interest Formula Compounding annually n = \ Compounding monthly n = I '2.. H 3b? Compoundin� quarterly n = Compounding daily n = For all of the application problems, show which formula you are using and how you are substituting the numbers into the equation. If it is necessary to isolate a variable, show those algebraic steps as well. Once the variable is isolated, you may use your calculator to complete all computations. 1. • 2. 3. $1,000 is invested at an annual interest rate of 10%. Find the balance after 2 years if the investment is compounded as follows: a. Monthlyft � \ b. Daily 00 0 ( I + A ::. \ QQQ ( I -\- I0\�6S(1.) '--,i } Find the balance after 4 years on $800 invested at an annual rate of 6% compounded continuously. fe r- � A :;: g DO � ft.::;. 0 obl"') 2.) f l, O 1-1.. 1 0 00 The population of a U.S. city in 2000 is modeled by the equation N(t) = 22,600e o .o1368t where t is the time in years since 2015. Find the city's population in 2015. Round to the nearest hundred. {�1 S o.Ol¼i(1t1) N (l,)�zi,h(X) e_ rJ (1 'r) � i'1--=l-4 T. b - 3.) ~ l -f/frO /'-!f - o

Math 4.2 Growth and Decay Applications Solution Key

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