growthdecay - Math 2412: Precalculus Mathematics...

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Math 2412: Precalculus Mathematics Exponential Growth and Decay Instructor: Ahmed Rashed 1. John invests $20,000 in an account that pays 4 : 8% interest per year. How many years will it take this investment to grow to $25,000, if the interest is compounded: (a) Continuously A = Pe rt ± (b) Monthly ² A = P ³ 1 + r n ´ nt µ 2. Rule of 70 for Doubling Time ( DT ) ( continuous compounding only ) DT = ln 2 r = 0 : 693 r 70 100 r · : Approximately, how long will it take an investment of $ P to double in value if the interest rate is 5% compounded continuously ? 3. ( Population Growth: P = P 0 e rt ) The population of Denton, Texas was about 66,270 in 1990, and 80,537 in 2000(Source: Census 2000, http://census.dfwinfo.com/). Assuming (a) The population growth rate of Denton, Texas. Write it as percentage. (b) Find the function that models the population after t years. (c) Find the projected population in the year 2014.
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This note was uploaded on 10/07/2010 for the course MATH 2312 taught by Professor Garrett during the Spring '10 term at Richland Community College.

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growthdecay - Math 2412: Precalculus Mathematics...

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