As a savvy entrepreneur, you decided to invest $8,000 in a start-up tech company in 2009. Since then, your investment has grown at a rate of 6.3% each year. Write a function to express the value of your investment, I, in the tech company as a function of t, the number of years since you made the investment. If the pattern continues, when will your investment exceed $18,000? (give the year and determine if it is early, mid, or late of that year) What is the monthly growth rate of your investment? (round answer to 1 decimal place)? What is the decade growth rate of your investment? (round answer to 1 decimal place)? Blank # 1 A/ Blank # 2 Blank # 3

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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As a savvy entrepreneur, you decided to invest $8,000 in a start-up tech company in 2009. Since then, your
investment has grown at a rate of 6.3% each year.
Write a function to express the value of your investment, I, in the tech company as a function of t, the
number of years since you made the investment.
If the pattern continues, when will your investment exceed $18,000? (give the year and determine if it is
early, mid, or late of that year)
What is the monthly growth rate of your investment? (round answer to 1 decimal place)? What is the decade
growth rate of your investment? (round answer to 1 decimal place)?
Blank # 1
A/
Blank # 2
Blank # 3
Transcribed Image Text:As a savvy entrepreneur, you decided to invest $8,000 in a start-up tech company in 2009. Since then, your investment has grown at a rate of 6.3% each year. Write a function to express the value of your investment, I, in the tech company as a function of t, the number of years since you made the investment. If the pattern continues, when will your investment exceed $18,000? (give the year and determine if it is early, mid, or late of that year) What is the monthly growth rate of your investment? (round answer to 1 decimal place)? What is the decade growth rate of your investment? (round answer to 1 decimal place)? Blank # 1 A/ Blank # 2 Blank # 3
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