When $1000 is invested at r% interest (compounded continuously) for 10 years, the balance is f (r)

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When $1000 is invested at r% interest (compounded continuously) for 10 years, the balance is f (r) dollars, where f is the function shown in Fig. 3.

(a) What will the balance be at 7% interest?

(b) For what interest rate will the balance be $3000?

(c) If the interest rate is 9%, what is the growth rate of the balance with respect to a unit increase in interest?

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Calculus And Its Applications

ISBN: 9780134437774

14th Edition

Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar

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