103Lab05Soln.pdf - MA103 Lab Report 5 Derivative...

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MA103 Lab Report 5 - Derivative Applications Name: Student Number: Fall 2020 1. [5 marks ] Suppose that you invested 15000 on August 1st, 2001 into a GIC (Guaranteed Investment Certificate) paying an annual interest rate r % compounded continuously. (a) At what interest rate must the GIC be earning if your investment will double in value after 30 years? State your answer as a percent to 2 decimal places.
(b) Suppose r is your result from part (a). To 2 decimal places, determine the value of your investment on November 1st, 2020 and the rate at which the value is changing. Include units in your answer.
2. [5 marks ] A police car is travelling north at 60 km/h and is chasing a speeding motorcycle that has just turned right at an

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