1) The population is 22000 in year t=0 and grows at the continuous rate of 7.65% per year.
(a) Determine the formula for P(t) population in year t .P(t)=?
b) By what percent does \population increases every year?
2) From time t=0 with t in years, $1400 deposit in bank account increases according to formula
B=1400^(0.03t)(a) Determine balance at the end of 90 years?
(b) When balance first goes over $50,000 ?
3) Determine effective annual yield and continuous growth rate if value of the deposit is provided by
Q=2800e^(0.0583t)
4) If $2400 is deposited in the account paying the nominal interest rate of 4% per year, how much is in account 18 years later if the interest is compounded
(a) Annually?
(b) Continuously?
5) Bank account pays 4% annual interest. As number of compounding periods rises, effective interest rate earned also rises.
(a) Determine annual interest rate earned by account if interest is compounded as specified.
(i) Quarterly
(ii) Monthly
(iii) Weekly
(iv) Daily
(b) Estimate e^0.04 , where e=2.71828 .