You invest  B0  dollars in an account that draws interest at a monthly rate of r as a decimal, compounded monthly. After t months, the balance in dollars is given by the following. B = B0(1 + r)t (a) Let a denote the APR as a decimal. Then the monthly rate as a decimal is equal to a divided by 12. Express the balance in terms of the initial investment, the number of months, and the APR as a decimal. B(t) =        (b) Let a denote the APR as a decimal, and let A denote the APR as a percentage. Then a is equal to A divided by 100. Express the balance in terms of the initial investment, the number of months, and the APR as a percentage. B(t) =        (c) Note that y years is equivalent to 12y months. Express the balance in terms of the initial investment, the number y of years, and the APR as a percentage. B(y) =

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 67SE: Alyssa opened a retirement account with 7.25 APRin the year 2000. Her initial deposit was 13,500....
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1) You invest 
B0
 dollars in an account that draws interest at a monthly rate of r as a decimal, compounded monthly. After t months, the balance in dollars is given by the following.
B = B0(1 + r)t
(a)
Let a denote the APR as a decimal. Then the monthly rate as a decimal is equal to a divided by 12. Express the balance in terms of the initial investment, the number of months, and the APR as a decimal.
B(t) = 
 
 
 
(b)
Let a denote the APR as a decimal, and let A denote the APR as a percentage. Then a is equal to A divided by 100. Express the balance in terms of the initial investment, the number of months, and the APR as a percentage.
B(t) = 
 
 
 
(c)
Note that y years is equivalent to 12y months. Express the balance in terms of the initial investment, the number y of years, and the APR as a percentage.
B(y) = 
 
2) 
Use the quadratic formula to find the exact solution to the given equation. (Enter your answers as a comma-separated list.)
3x2 − 9x + 2 = 0
x = 
 
Provide solutions accurate to two decimal places.
smaller x-valuex=
larger x-valuex=
 
3)  
Data from Target's 2014 annual report t indicate that the equation of change for the revenue R, in millions of dollars, from 2010 through 2014 is
dR
dt
 = 1647.7,
where t is the time, in years, since 2010. If the initial revenue is 66,616.4 million dollars, find an equation that gives R as a linear function of t.
R(t) = 
 
 
4) 
On July 24, 2008, the federal minimum wage was $6.55 per hour.† On July 24, 2009, this wage was raised to $7.25 per hour. If 
W(t)
 denotes the minimum wage, in dollars per hour, as a function of time, in years, use the given information to estimate 
dW
dt
 in 2009. (Round your answer to two decimal places.)
We estimate that 
dW
dt
 in 2009 was about $ per hour per year.
 
5) Our new magazine initially sells 300 copies per month. Research indicates that a vigorous advertising campaign could increase sales by 10% each month if our market were unlimited. But research also indicates that magazine sales in our area are unlikely to exceed 1800 per month. Make a logistic model of projected magazine sales. (Use t as your variable. Round r to three decimal places.)

N(t) =
 
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