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The table below shows the value, A(t)A(t), of an initial investment of 2700 dollars after tt years. t 0 5 7 8 11 16 20
The table below shows the value, A(t)A(t), of an initial investment of 2700 dollars after tt years.
t | 0 | 5 | 7 | 8 | 11 | 16 | 20 |
---|---|---|---|---|---|---|---|
A(t) | 2700 | 3773.07 | 4287.57 | 4571.16 | 5714.18 | 7956.08 | 10406.54 |
11000 10000 9000 8000 7000 6000 5000 4000 3000 2000 1000 + 10 12 16 18 2 When answering the question below, pay close attention to the minimum number of required decimal places indicated in each answer box. a. Use a scientific calculator, spreadsheet, or the textbook companion site to determine the exponential regression equation of the data. Give the exponential model in both forms: General Model A(t) a- b== In both models, a Natural Model kt A(t)=a.e k= When answering each question below, do not round your calculations until the final step and use the full values of a, b, and k. b. Based on the your regression model A(t) = a. 6, what is the percent increase per year? c. Using either model, determine the expected value after three years. A(3) - d. Using either model, estimate how long will it take for the value of this investment to reach $7,400. e. Using either model, estimate how long will it take to reach double the value of the initial investment.
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