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8B Guided Practice .docx

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1 Using the Rule of 70, what is the doubling time for a money market investment CD (certificate of deposit) that earns 3.75% annually? 70/3.75 = T doubling 70/3.75 = 18.66 years Years for CD to double in value = 18.66 years 2 In 1982 the approximate membership in The Church of Jesus Christ of Latter-day Saints was 5.2 million and in 1998 it was 10.4 million. Using the apparent doubling time and the approximation formula for exponential growth, forecast how many millions of members there might be in 2045 if it continued to grow at the same exponential rate. 1998 - 10.4 million to 1982 – 5.2 million 2045 – 1998 = 47 years 10.4 x 2 (47/16) 10.4 x 2 (2.938) 10.4x 7.663 79.695 million Estimate of members by 2045 = 79.7 million 3 Poaching is causing a population of elephants to decline by 8%
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