Professional Documents
Culture Documents
5. You deposit $10,000 in an account that pays 6.92% annual interest. Find the balance after 5 years if
the interest is compounded with the given frequency.
a. Monthly
14119.99$
b. Daily
14133.56$
c. Quarterly
14092.27$
d. Weekly(52)
14130.78$
6. In 2007, there were more than 8.14 million cars for sale. The number of cars then decreased by 23%
per year.
Write an exponential growth or decay model given by the number of c cars over t years after 2007. Use
this model to estimate how many cars there were in 2013?