HW1 - 5 Express the following logarithms in terms of the...

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ECON/AMS 11A Winter 2010 HW assignment #1 Due Monday, 1/11 Comment: You can read SN 2 on the review page to refresh your memory about solving equations and systems of equations and you can read SN 3 for a refresher on the exponential and logarithm functions. In particular, you will find a section in SN 3 on compound interest. 1. Solve the equations. a. 2 x 2 + 5 x - 33 = 0 b. 20 te - 0 . 04 t - 0 . 4 t 2 e - 0 . 04 t = 0 c. 2 u + 1 3 u + 1 = u + 2 u + 3 2. Solve the systems of equations. a. 4 x + 5 y = 7 5 x + 6 y = 11 b. x 2 + x - y = 10 3 x + 2 y = 13 3. Find the point of market equilibrium for the market with the supply and demand equa- tions below. Supply: p = 7 q + 50 Demand: 5 p + 2 q = 200 4. Find the numbers a, b, c and d that satisfy the following equation: ln 12 XZ 3 5 Y 2 ! = a ln X + b ln Y + c ln
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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....
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