Math Problem Statement
An investment worth $1 million in 2005 has been growing at a rate of f(t) = 0.141(1.17t) million dollars per year where t is the number of years since 2005. (a) Calculate how much the investment will have grown between 2005 and 2016. (Round your answer to three decimal places.) $1.112
seenKey 4.153 million
How much is it projected to grow between 2016 and 2021? (Round your answer to three decimal places.) $
million
(b) Recover the function for the model that gives future value of an investment in million dollars t years since 2005. Hint: First, find the general antiderivative of f(t) . Then, use the initial investment amount to find the specific antiderivative. Your final answer should not have a C in it. F(t) =
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Exponential Growth
Integration
Antiderivatives
Formulas
f(t) = 0.141(1.17^t)
Growth = ∫ f(t) dt
Antiderivative of exponential functions
Theorems
Fundamental Theorem of Calculus
Exponential Growth Formula
Suitable Grade Level
Grades 11-12 and early college level
Related Recommendation
Exponential Growth Rate of a Painting's Value
Calculate Future Value of $16,000 with Continuous Compounding at 1.57% for 5 Years
Exponential Growth of an Account from 2005 to 2019
Calculating Future Value of Investments with Compound Interest at 8% Over 10 Years
Evaluate Exponential Growth with Compound Interest Formula