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5. a) What should the initial investment be in order to reach a total of $10,000 in 10 years if the investment is to be
5. a) What should the initial investment be in order to reach a total of $10,000 in 10 years if the investment is to be compounded continuously at 6.7%? Use 2 place accuracy. P= Poet => 10,000 = Poe. 067t = P 01067(10) am D the initial wibestment is Po = 10,000 = $5117.09 01067(10) b) The cost of a 30 second television commercial that runs during the Super Bowl has been increasing exponentially over the past several years. Data in the following table show costs for the years after 1990 with the cost in thousands of dollars. Use 3 place accuracy. Years after 1990 Cost of commercial 1 800 3 850 5 1000 8 1300 13 2100 16 2600 i) Find an exponential model y = ab* and then convert the result to an exponential model y = Cek. 4 = ab* = (686 . 997) (1,087)* R2 = . 942 y = cekx = > C= a = 686. 997 and ek = b= 1087 luck = k = lub = lu (1087 ) =1083 and y = ( 6 86 . 9 97 ) ( 0 8 3 x ii) Estimate the cost of commercial run during the Super Bowl in 2014. Also, find the rate of change that year
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