Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help with these! 0 Question 10 v A bank features a savings account that has an annual percentage rate OH = 3% with interest

please help with these!

image text in transcribedimage text in transcribed
0 Question 10 v A bank features a savings account that has an annual percentage rate OH\" = 3% with interest compounded guarterly_.]osh deposits $9,500 into the account. r kt The account balance can be modeled by the exponential formula A(t) = 0(1 + E) . where A is account value after 15 years , a is the principal (starting amount), 7' is the annual percentage rater k is the number of times each year that the interest is compounded. (A) What values should be used for a, r, and k? (B) How much money willJosh have in the account in 9 years? Answer = $ C] Round answer to the nearest penny. (C) What is the annual percentage yield (APY) for the savings account? (The APY is the actual or effective annual percentage rate which includes all compounding in the year). APY = C]%. Round answer to 3 decimal places. 0 Question 11 v The fox population in a certain region has a continuous growth rate of 5 percent per year. It is estimated that the population in the year 2000 was 26400. (a) Find a function that models the population t years after 2000 (t = 0 for 2000). Hint: Use an exponential function with base e. (b) Use the function from part (a) to estimate the fox population in the year 2008. Your answer is (the answer must be an integer)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Spherical Radial Basis Functions, Theory And Applications

Authors: Simon Hubbert, Quoc Thong Le Gia, Tanya M Morton

1st Edition

331917939X, 9783319179391

More Books

Students also viewed these Mathematics questions

Question

What is jargon, and when is it appropriate for business writing?

Answered: 1 week ago