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1.The amount of goods and services that costs $400 on January 1, 1997 costs $⁢432.86 on...

1.The amount of goods and services that costs $400 on January 1, 1997 costs $⁢432.86 on January 1, 2003. Estimate the cost of the same goods and services on January 1, 2019. Assume the cost is growing exponentially. Round your answer to the nearest cent.

2.The demand for oil in a particular country doubles every 7 years. How long will it take for demand to triple? Round to the nearest hundredth of a year.

3.If $13,000 is invested at 9% compounded quarterly, how much will this investment be worth in 15years? Round your answer to two decimal places.

Solutions

Expert Solution

. In this case the exponential growth model would be y= d(0) 2 t/7 where, d(0) is the intial demand. We have to find out at whatvalue of t , y would become 3d(0)

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milcah answered 2 years ago
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