Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show work You must show all your work to receive full credit. 1. (1 point) How long will it take a $1000 investment to

image text in transcribed

Please show work

image text in transcribed
You must show all your work to receive full credit. 1. (1 point) How long will it take a $1000 investment to be worth $1400 if it is compounded continuously at 8.75% per year? Round your answers to five decimal places. 2. A $1000 investment doubles every 14 years. If the investment is growing exponentially, answer the following questions. a) (1 point) Find the exponential growth model (formula) for the initial investment of $1000 after t years. (Hint: Use A(t) - Pert) b) (1 point) Using the model from part (a), determine the value (to the nearest penny) of the investment after 17 years? c) (1 point) How long will it take for this investment to triple? (Hint: The answer is not 21 years!) 3. The half - life of radioactive Uranium (234U) is 247,000 years. If the initial quantity of Uranium is 10 grams, answer the questions that follow. (Hint: The formula Q (t) = Qo . ekt may be useful.) a) Find the exponential decay model (formula) for the amount of Uranium remaining after t years? b) How much of the 10 gram sample will remain after 300,000 years? c) How long will it take for the 10 gram sample to decay to 3 grams

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_2

Step: 3

blur-text-image_3

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

Non-metrisable Manifolds

Authors: David Gauld

1st Edition

9812872574, 9789812872579

More Books

Students also viewed these Mathematics questions