SOLUTION: Jorge invests an amount of $5,000 in a money market account at an annual interest rate of 5%, compounded monthly. The function 𝑓(π‘₯) = 5000 (1 +0.05/12 )^12π‘₯ , represents

Algebra ->  Linear-equations -> SOLUTION: Jorge invests an amount of $5,000 in a money market account at an annual interest rate of 5%, compounded monthly. The function 𝑓(π‘₯) = 5000 (1 +0.05/12 )^12π‘₯ , represents       Log On


   

Question 1204721: Jorge invests an amount of $5,000 in a money market account at an annual interest rate of 5%, compounded monthly. The function 𝑓(π‘₯) = 5000 (1 +0.05/12 )^12π‘₯ , represents the value of the investment after π‘₯ years.
Part A. Find the average rate of change in the value of Jorge’s investment between year 5 and year 7, between year 10 and year 12, and between year 15 and year 17.
Answer by math_tutor2020(3816) About Me  (Show Source):
You can put this solution on YOUR website!

Hint:
The average rate of change (AROC) on the interval a+%3C=+x+%3C=+b for f(x) is %28f%28b%29-f%28a%29%29%2F%28b-a%29
It's basically the slope formula
rise = change in f(x) values
run = change in x values

So you'll need to compute f(5) and f(7) for the first AROC
Then as a separate set of calculations, you'll need the values of f(10) and f(12)
Lastly you'll need f(15) and f(17)