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0.00375
The monthly payment will be $594.94. The total interest paid
will be 36($594.94) $20,000 $1417.84.
A LWAY S L E A R N I N G Copyright © 2019, 2015, 2011 Pearson Education, Inc. Slide 13
Example: Modeling World Population
World population in billions during year x can be
modeled by P(x) = 7(1.01)x – 2011. Solve the equation
P x 7 1.01
x 2011
8 analytically to estimate the
year when world population may reach 8 billion.
7 1.01
x 2011
8
1.01
x 2011
8/7
log 1.01
x 2011
log8 7
x 2011 log1.01 log8 7
log8 7
x 2011
log1.01
log8 / 7
x 2011 2024
log1.01
A LWAY S L E A R N I N G Copyright © 2019, 2015, 2011 Pearson Education, Inc. Slide 14
Determining the Price of Solar
Example: Energy (1 of 3)
Analytic Solution
30 0.90 0.75
x
Because x = 35
0.90 0.025
x
corresponds to 35 years
log 0.90 log 0.025
x
after 1980, our model
predicts photovoltaic cells
x log 0.90 log 0.025 were about $0.75 in 2015,
log 0.025 which is two years later
x 35.01
log 0.90 than the actual year of
2013.