Question 1024454: Help Please
A bank features a savings account that has an annual percentage rate of r=4.7
% with interest compounded quarterly. Zach deposits $3,500 into the account.
The account balance can be modeled by the exponential formula S(t)=P(1+r/n)^nt
, where S is the future value, P is the present value, r is the annual percentage rate, n is the number of times each year that the interest is compounded, and t is the time in years.
(A) What values should be used for P, r, and n?
P=
r=
n=
B) How much money will Zach have in the account in 8 years?
Answer = $ . Round answer to the nearest penny.
2. The number of bacteria in a culture is given by the function
n(t)=955e0.25t where t is measured in hours.
(a) What is the relative rate of growth of this bacterium population?
Your answer is percent
(b) What is the initial population of the culture (at t=0)?
(c) How many bacteria will the culture contain at time t=5?
Answer by jorel1380(3719)   (Show Source):
You can put this solution on YOUR website! A)P=3500
r=.047
n=4
B)After 8 years:
S(8)=3500(1+(.047/4))^32
S(8)=$5086.40 in the account after 8 years.
a)The relative growth rate is .25, or 25%
b)at t=0, the population is 955e^.25(0)=955
c)at t=5; the population is 955*e^.25(5)=955*3.49=3333.28 bacterium. ☺☺☺☺
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