#$&* course Mth 163 3-04-13 2:43
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Given Solution: During the first year the interest will be 10% of $1000, or $100. This makes the total at the end of the first year $1100. During the second year the interest will be 10% of $1100, or $110. At the end of the second year the total will therefore be $1100 + $110 = $1210. During the third year the interest will be 10% of $1210, or $121. At the end of the sphere year the total will therefore be $1210 + $121 = $1331. The yearly changes are $100, $110, and $121. These changes increase year by year. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating: ********************************************* Question: `q002. In the preceding problem you obtained amounts $1100, $1210 and $1331. What number would you multiply by $1000 to get $1100? What number we do multiply by $1100 to get $1210? What number would we multiply by $1210 to get $1331? What is the significance of this number and how could we have found it from the original information that the amount increases by 10 percent each year? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: You multiply each number by 1.1 to get the next number When you increase a number by 10%, it really is increasing it by 110% which equals 1.1 confidence rating #$&*: 2 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: To get $1100 you have to multiply $1000 by 1100 / 1000 = 1.1. To get $1210 you have to multiply $1210 by 1210 / 1100 = 1.1. To get $1331 you have to multiply $1331 by 1331 / 1210 = 1.1. If the amount increases by 10 percent, then you end up with 110 percent of what you start with. 110% is the same as 1.1. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating:ok ********************************************* Question: `q003. Given the recurrence relation P(n) = 1.10 * P(n-1) with P(0) = 1000, substitute n = 1, 2, and 3 in turn to determine P(1), P(2) and P(3). How is this equation related to the situation of the preceding two problems? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: P(1)=1.10*P(1-1) P(1)=1.1*1000 P(1)= 1100 P(2)=1.10*P(2-1) P(2)=1.10*1100 P(2)=1210 P(3)=1.10*P(3-2) P(3)=1.10*1210 P(3)=1331 confidence rating #$&*: 3 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: Substituting 1 into P(n) = 1.10 * P(n-1) we obtain P(1) = 1.10 * P(1-1), or P(1) = 1.10 * P(0). Since P(0) = 1000 we get P(1) = 1.1 * 1000 = 1100. Substituting 2 into P(n) = 1.10 * P(n-1) we obtain P(2) = 1.10 * P(1). Since P(1) = 1100 we get P(1) = 1.1 * 1100 = 1210. Substituting 3 into P(n) = 1.10 * P(n-1) we obtain P(3) = 1.10 * P(2). Since P(2) = 1000 we get P(3) = 1.1 * 1210 = 1331. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating: ok ********************************************* Question: `q004. If you are given $5000 and invest it at 8% annual interest, compounded annually, what number would you multiply by $5000 to get the amount at the end of the first year? Using the same multiplier, find the results that the end of the second and third years. YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: You would multiply by 1.08 $5000*1.08=5400 $5400*1.08=5832 $5832*1.08=6298.56 confidence rating #$&*:3 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: If your money increases by 8% in a year, then it the end of the year you will have 108% as much as at the beginning. Since 108% is the same as 1.08, our yearly multiplier will be 1.08. If we multiply $5000 by 1.08, we obtain $5000 * 1.08 = $5400, which is the amount the end of the first your. At the end of the second year the amount will be $5400 * 1.08 = $5832. At the end of the third year the amount will be $5832 * 1.08 = $6298.56. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating:ok ********************************************* Question: `q005. How would you write the recurrence relation for a $5000 investment at 8 percent annual interest? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: P(n)=1.08*P(n-1) confidence rating #$&*:2 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: Just as the recurrence relation for 10 percent annual interest, as seen in the problem before the last, was P(n) = 1.10 * P(n-1), the recurrence relation for 8 percent annual interest is P(n) = 1.08 * P(n-1). &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating:ok ********************************************* Question: `q006. If you are given amount $5000 and invest it at annual rate 8% or .08, then after n years how much money do you have? What does a graph of amount of money vs. number of years look like? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: $5000*1.08^n The graph is increasing at an increasing rate passing through (0,5000) confidence rating #$&*: 1 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: After 1 year the amount it $5000 * 1.08. Multiplying this by 1.08 we obtain for the amount at the end of the second year ($5000 * 1.08) * 1.08 = $5000 * 1.08^2. Multiplying this by 1.08 we obtain for the amount at the end of the third year ($5000 * 1.08^2) * 1.08 = $5000 * 1.08^3. Continuing to multiply by 1.08 we obtain $5000 * 1.08^3 at the end of year 3, $5000 * 1.08^4 at the end of year 4, etc.. It should be clear that we can express the amount at the end of the nth year as $5000 * 1.08^n. If we evaluate $5000 * 1.08^n for n = 0, 1, 2, ..., 10 we get $5000, $5400, 5832, 6298.56, 6802.45, 7346.64, 7934.37, 8569.12, 9254.65, 9995.02, 10,794.62. It is clear that the amount increases by more and more with every successive year. This result in a graph which passes through the vertical axis at (0, 5000) and increases at an increasing rate. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating: ok ********************************************* Question: `q007. With a $5000 investment at 8 percent annual interest, how many years will it take to double the investment? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: 5000*1.08^x 10000=5000*1.08^x X=9.006468 confidence rating #$&*:3 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: Multiplying $5000 successively by 1.08 we obtain amounts $5400, 5832, 6298.56, 6802.45, 7346.64, 7934.37, 8569.12, 9254.65, 9995.02, 10,794.62 at the end of years 1 thru 10. We see that the doubling to $10,000 occurs very shortly after the end of the ninth year. We can make a closer estimate. If we calculate $5000 * 1.08^x for x = 9 and x = 9.1 we get about $10,072. So at x = 9 and at x = 9.1 the amounts are $9995 and $10072. The first $5 of the $77 increase will occur at about 5/77 of the .1 year time interval. Since 5/77 * .1 = .0065, a good estimate would be that the doubling time is 9.0065 years. If we evaluate $5000 * 1.08^9.0065 we get $10,000.02. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): Ok ------------------------------------------------ Self-critique Rating:3 ********************************************* Question: `q008. If you are given amount P0 and invest it at annual rate r (e.g., for the preceding example r would be 8%, which in numerical form is .08), then after n years how much money do you have? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: P0*1.08^n P0*(1+r)^n confidence rating #$&*: 1 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: If the annual interest rate is .08 then each year we would multiply the amount by 1.08, the amount after n years would be P0 * 1.08^n. If the rate is represented by r then each year then each year we multiply by 1 + r, and after n years we have P0 * (1 + r)^n. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating: ok ********************************************* Question: `q009. If after an injection of 800 mg an antibiotic your body removes 10% every hour, then how much antibiotic remains after each of the first 3 hours? How long does it take your body to remove half of the antibiotic? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: .9*800= first hour (720) 800*.9^2= second hour 648 800*.9^3= third hour 583.2 400=800*.9^x X=6.58 hours confidence rating #$&*: 2 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: If 10 percent of the antibiotic is removed each hour, then at the end of the hour the amount left will be 90 percent of what was present at the beginning of the hour. Thus after 1 hour we have .90 * 800 mg, after a second hour we have .90 of this, or .90^2 * 800 mg, and after a third hour we have .90 of this, or .90^3 * 800 mg. The numbers are 800 mg * .90 = 720 mg, then .90 of this or 648 mg, then .90 of this or 583.2 mg. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating: ok ********************************************* Question: `q010. In the preceding problem, what function Q(t) represents the amount of antibiotic present after t hours? What does a graph of Q(t) vs. t look like? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: Y=800*.9^x The graph decreases at a decreasing rate and passes through (0,800). There is also a horizontal asymptote at x=0 confidence rating #$&*: 3 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: After t hours we will have 800 * .9^t mg left. So Q(t) = 800 * .9^t. The amounts for the first several years are 800, 720, 648, 583.2, etc.. These amounts decrease by less and less each time. As a result the graph, which passes through the vertical axes at (0,800), decreases at a decreasing rate. We note that no matter how many times we multiply by .9 our result will always be greater than 0, so the graph will keep decreasing at a decreasing rate, approaching the horizontal axis but never touching it. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating: ok ********************************************* Question: `q011. Suppose that we know that the population of fish in a pond, during the year after the pond is stocked, should be an exponential function of the form P = P0 * b^t, where t stands for the number of months after stocking. If we know that the population is 300 at the end of 2 months and 500 at the end of six months, then what system of 2 simultaneous linear equations do we get by substituting this information into the form of the function? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: 300=P0*b^2 500=P0*b^6 confidence rating #$&*: 3 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: We substitute the populations 300 then 500 for P and substitute 2 months and 6 months for t to obtain the equations 300 = P0 * b^2 and 500 = P0 * b^6. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating: ok ********************************************* Question: `q012. We obtain the system 300 = P0 * b^2 500 = P0 * b^6 in the situation of the preceding problem. If we divide the second equation by the first, what equation do we obtain? What do we get when we solve this equation for b? If we substitute this value of b into the first equation, what equation do we get? If we solve this equation for P0 what do we get? What therefore is our specific P = P0 * b^t function for this problem? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: [P0 * b^6-500] / [ P0 * b^2-300] B^4=5/3 B=1.136 300=P0*1.136^2 300=P0*1.291 232.378=P0 P=232.4*1.136^t confidence rating #$&*: 3 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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Given Solution: Dividing the second equation by the first the left-hand side will be left-hand side: 500/300, which reduces to 5/3, and the right-hand side will be right-hand side: (P0 * b^6) / (P0 * b^2), which we rearrange to get (P0 / P0) * (b^6 / b^2) = 1 * b^(6-2) = b^4. Our equation is therefore b^4 = 5/3. To solve this equation for b we take the 1/4 power of both sides to obtain (b^4)^(1/4) = (5/3)^(1/4), or b = 1.136, to four significant figures. Substituting this value back into the first equation we obtain 300 = P0 * 1.136^2. Solving this equation for P0 we divide both sides by 1.136^2 to obtain P0 = 300 / (1.136^2) = 232.4, again accurate to 4 significant figures. Substituting our values of P0 and b into the original form P = P0 * b^t we obtain our function P = 232.4 * 1.136^t. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Self-critique (if necessary): ok ------------------------------------------------ Self-critique Rating: ********************************************* Question: `q013. If you invest $4000 at 5% interest, compounded annually: • How much money do you have after 8 years? • How much money do you have after t years? • At the end of which year does the amount of money more than double the original amount? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: 4000*1.05^x 4000*1.05^8= 5909.822 F(t)=4000*1.05^t 8000=4000*1.05^t T=14.21 years confidence rating #$&*:2 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ ********************************************* Question: `q014. If you invest a certain unknown amount of money at an unknown interest rate, compounded annually, and if after 5 years you have $1100 and after 10 years the amount is $1300, then: • What function of the form P = P_0 * b^t models the amount as a function of time? • What was the original amount? • What was the interest rate? YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY Your solution: P_0(1+r)^5=1100 P_0(1+r)^10=1300 Solve both for Po and set equal to each other 1100/ [(1+r)^5]= 1300/ [(1+r)^10] Cross multiply 1100(1+r)^10= 1300(1+r)^5 divide by 1100 [(1+r)^10]/ [(1+r)^5] = 13/11 ((1+r)^5)^1/5= (13/11)^1/5 1+r= 1.033975 R=.033975 --------Interest rate 1100/ (1+.033975)^5=P_0 930= P_0 ----------Original amount confidence rating #$&*: 1 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ ------------------------------------------------ Self-critique rating:ok "" " Self-critique (if necessary): ------------------------------------------------ Self-critique rating: "" " Self-critique (if necessary): ------------------------------------------------ Self-critique rating: #*&!