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Section 4.1

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Question 13

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B0/1 pt 52 99 0 Details

A bank features a savings account that has an annual

percentage rate of r = 5.5% with interest compounded

quarterly. Tatiana deposits $9,500 into the account.

kt

r

= a

1

The account balance can be modeled by the exponential

formula Aſt)

where A is account value after t

k

years , a is the principal (starting amount), r is the annual

percentage rate, k is the number of times each year that

the interest is compounded.

2.)

(A) What values should be used for a, r, and k?

a =

r =

k =

(B) How much money will Tatiana have in the account in 7

years?

Answer = $

Round answer to the nearest penny.

(C) What is the annual percentage yield (APY) for the

savings account? (The APY is the actual or effective annual

percentage rate which includes all compounding in the

year).

APY

%.

Round answer to 3 decimal places.

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Question 14

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>

B0/1 pt 52 99 0 Details

The fox population in a certain region has a continuous

growth rate of 8 percent per year. It is estimated that the

population in the year 2000 was 26000.

(a) Find a function that models the population t years after

2000 (t = 0 for 2000).

Hint: Use an exponential function with base e.

Your answer is P(t)

=

(b) Use the function from part (a) to estimate the fox

population in the year 2008.

Your answer is (the answer must be an integer)

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Question 15

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B0/1 pt 299 Details

A population of bacteria is growing according to the

equation P(t) = 12500.036. Estimate when the population will

exceed 1524.

t=

Give your answer accurate to one decimal place.

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