invested now would grow to $20,000 n 30yeant HINT Solve the continuous compoundi
ID: 3136993 • Letter: I
Question
invested now would grow to $20,000 n 30yeant HINT Solve the continuous compounding formula for P 110. Saving for Retirement An investor wants to have a retirement nest egg of $100,000 and estimates that her investment now will grow at 3% compounded continuously for 40 years, what amount should she invest now to achieve this goal? 111. Working by the Hour One million dollars is deposited in an account paying 6% compounded continuously. a. What amount of interest will it earn in its first hour on deposit? HINT One hour is 1/8760 of a year. b. What amount of interest will it earn during its 500th hour on deposit? HINT Subtract the amount for t 499 from the amount for t 500. 112. National Debt The national debt is approximately $18 trillion. a. If the United States paid 5.5% interest compounded con- tinuously on the debt, then what amount of interest does the government pay in one day? b. How much is saved in one day if the interest were 5.5% compounded daily? 113. Radioactive Decay The number of grams of a certain radio- active substance present at time t is given by the formula A = 200e-o001, where t is the number of years. How many grams are present at time -0? How many grams are present at time t 500? 114. Population Growth The function P 2.4e003 modelsExplanation / Answer
Susbtitute t=0 in A= 200*e^(-0.001t)
A= 200*e^(-0.001*0)
A= 200*e^(0)
A= 200 *1
A= 200 grams
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Susbtitute t=500 in A= 200*e^(-0.001t)
A= 200*e^(-0.001*500)
Use calculator
A= 121.306
Which is about 121.306 grams
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