1REVIEW UNIT IV L25 – L26 FORMULAS TO MEMORIZE: Compound Interest Formula: 1ntrAPn⎛⎞=+⎜⎟⎝⎠Continuous Compounding: rtAPe=Exponential Growth or Decay: ( )0ktA tA e=The Binomial Formula: ()0nnnjjjnxyxyj−=⎛⎞+=⎜⎟⎝⎠∑, where ()!!!nnjjnj⎛⎞=⎜⎟−⎝⎠Radioactive Decay:( )012tmA tA⎛⎞=⎜⎟⎝⎠, where m is the half-life of the radioactive substance. 1. George wants to buy a $30,000 car. He has saved $27,000. How many years will be needed for $27,000 to increase to $30,000 at 4% compounded (a) quarterly (b) continuously? 2. How long will it take a certain bacteria population to double if it grows according to the formula ( )()3ln 2 / 20tN tN e=where tis in hours. 3. A radioactive substance is decaying so that the number of grams present after
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