Question
1- you want to make an investment in a continuosly compounding account over a period of five years. What is the interest rate is required
1- you want to make an investment in a continuosly compounding account over a period of five years. What is the interest rate is required for your investment to double in that time period? Round the logarithm value to the nearest hundredth and the answer to the nearest tenth.
a) 13.9% b) 72.1% c) 7.2% d) 1.39%
2- you want to make an investment in a continuously compounding account earning 12.6% interest. How many years will it take for your investment double in value? Round the natural log value to the nearest thousandth. Round the answer to the nearest year.
a) 5 years b) 1 year c) 18 years d) 6 years
3- The long jump record in feet at a particular school can be modeled by f(x)=18.1+2.2In (x+1), where x is the number of years since the school was opened. What is the record for the long jump 15 years after the school opened? Round the logarithm value to the nearest thousandth. Round the answer to the nearest tenth.
a) 24.2 ft. b) 20.3 ft. c) 24.1 ft. d) 23.9 ft.
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