Answered: A slow economy caused a company’s…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A self-employed software engineer starts saving $300 a month in an index fund that returns 9% annual interest, compounded monthly. The balance in the account after t years is given by A1t2= 40,00011.007512t - 12. a. How much money will be in her account after 20 years and how fast is her account growing at this point? b. How long will it take until the balance in her account reaches $100,000, and how fast is her account growing at this point?
Return to Test Question 16, Step 1 of 1 loved Solution 2 caldian Dana 1 of 1 1 Hawkes Learning | Portal Correct Answer: $56,954.45 Tutor-Solution Page 1 of 1 | Hawkes Learning | Portal The balance owed on your credit card triples from $800 to $2400 in 9 months. If the balance is grow linearly then it would take 34.9 months to reach $7000. If, on the other hand, the balance is growing 800(1+0.13)* where x represents the number of months, what would the b be after 34.9 months? Round your answer to the nearest cent. exponentially, f(x) 31550 f(x) = In order to solve this problem, we assume the balance is growing according to the exponential functi 800(1 + 0.13)*, where the variable x represents the total number of months. Here we are interested in knowing what the balance would be after 34.9 months, so substitute 34.9 for x. 315496 f(x) = 800(1.13)* f(34.9) = 800(1.13) 34.2 ≈ 56,954.45 So the balance after 34.9 months would be $56,954.45. Notice that your answer is greater than $70 Over a…

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A slow economy caused a company’s annual revenues to drop from $530, 000 in 2008 to $386,000 in 2010. If the revenue is following an exponential pattern of decline, what is the expected revenue in 2012?