Question
Average Joe's Gym had a profit of 2.93 million dollars last year. In order to save for expansion and new equipment they plan to continually
Average Joe's Gym had a profit of 2.93 million dollars last year. In order to save for expansion and new equipment they plan to continually invest 50% of their profit over the next 5 years to an account which earns 4.55% interest, compounded continuously. Write the function R(t) that shows the stream of money flowing into their investment account under each of the following circumstances. Do NOT round any values. (a) Their profit remains constant over the next 5 years. R(t) =
(b) Their profit increases by 6.71 million dollars per year over the next 5 years. R(t) =
(c) Their profit increases by 6.71% each year over the next 5 years. R(t) =
(d) Their profit decreases by 6.71 million dollars per year over the next 5 years. R(t) =
(e) Their profit decreases by 6.71% each year over the next 5 years. R(t) =
What are the appropriate units for each function R(t) above? Select dollars million dollars dollars per year million dollars per year % % per year
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