Unformatted text preview: 5. Express the following logarithms in terms of the natural log function (ln x ), then use a a calculator to evaluate them. Round your answers to 4 decimal places. a. log 5 29 = b. log 11 111 = 6. A savings account earns 5 . 5%, compounded daily (365 times a year). (a) How much should be deposited in the account initially to ensure that the value of the account after 20 years will be $50,000.00? (b) If $10,000.00 is deposited in the account initially, then approximately how many years will it take for the account to reach a value of $50,000.00? Round your answers to 2 decimal places....
View Full Document
This note was uploaded on 03/16/2010 for the course ECON 11A taught by Professor Qian during the Spring '08 term at UCSC.
- Spring '08