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

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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