Chap8 Section3

Elementary and Intermediate Algebra: Graphs & Models (3rd Edition)

Info icon This preview shows pages 1–2. Sign up to view the full content.

Section 8.3 Applications of Exponential Functions 799 Version: Fall 2007 8.3 Exercises 1. Suppose that you invest $15,000 at 7% interest compounded monthly. How much money will be in your account in 4 years? Round your answer to the nearest cent. 2. Suppose that you invest $14,000 at 3% interest compounded monthly. How much money will be in your account in 7 years? Round your answer to the nearest cent. 3. Suppose that you invest $14,000 at 4% interest compounded daily. How much money will be in your account in 6 years? Round your answer to the nearest cent. 4. Suppose that you invest $15,000 at 8% interest compounded monthly. How much money will be in your account in 8 years? Round your answer to the nearest cent. 5. Suppose that you invest $4,000 at 3% interest compounded monthly. How much money will be in your account in 7 years? Round your answer to the nearest cent. 6. Suppose that you invest $3,000 at 5% interest compounded monthly. How much money will be in your account in 4 years? Round your answer to the nearest cent. 7. Suppose that you invest $1,000 at 3% interest compounded monthly. How much money will be in your account in 4 years? Round your answer to the nearest cent. Copyrighted material. See: 1 8. Suppose that you invest $19,000 at 2% interest compounded daily. How much money will be in your account in 9 years? Round your answer to the nearest cent. 9. Suppose that you can invest money at 4% interest compounded monthly. How much should you invest in order to have $20,000 in 2 years? Round your answer to the nearest cent. 10. Suppose that you can invest money at 6% interest compounded daily. How much should you invest in order to have $1,000 in 2 years? Round your answer to the nearest cent.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.
  • '
  • NoProfessor
  • Derivative, Logarithmic scale, Natural logarithm, nearest cent, Exponentials

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern