When their child was born, her parents invested $40,000 in a plan guaranteed to increase by 3% per year. The logarithmic functio
n y equals 77.9 log start fraction x over 40,000 end fraction can be used to determine the number of years, y, it takes for the investment to be worth x dollars.
Exponential graph modeling the equation y equals seventy seven point nine times the log of the quantity x over forty thousand. Graph comes up from the left along the y axis and goes through the point forty thousand comma zero and continues to the right towards infinity.
After how many years will the investment be worth approximately 50% more than it was originally and how old will their child be when the investment is worth about $100,000?
The investment is worth approximately 50% more after 25 years, and the investment is worth $100,000 when their child is about 31 years old.
The investment is worth approximately 50% more after 5 years, and the investment is worth $100,000 when their child is about 25 years old.
The investment is worth approximately 50% more after 14 years, and the investment is worth $100,000 when their child is about 31 years old.
The investment is worth approximately 50% more after 31 years, and the investment is worth $100,000 when their child is about 25 years old.
Exponential graph modeling the equation y equals seventy seven point nine times the log of the quantity x over forty thousand. Graph comes up from the left along the y axis and goes through the point forty thousand comma zero and continues to the right towards infinity.
After how many years will the investment be worth approximately 50% more than it was originally and how old will their child be when the investment is worth about $100,000?
The investment is worth approximately 50% more after 25 years, and the investment is worth $100,000 when their child is about 31 years old.
The investment is worth approximately 50% more after 5 years, and the investment is worth $100,000 when their child is about 25 years old.
The investment is worth approximately 50% more after 14 years, and the investment is worth $100,000 when their child is about 31 years old.
The investment is worth approximately 50% more after 31 years, and the investment is worth $100,000 when their child is about 25 years old.
1 answer:
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Answer:
So the answer for this case would be n=107 rounded up to the nearest integer
Step-by-step explanation:
Information given
the sample mean
the sample deviation
the sample size
Solution to the problem
The margin of error is given by this formula:
(a)
And on this case we have that ME =0.001 and we are interested in order to find the value of n, if we solve n from equation (a) we got:
(b)
We can use as estimator of the real population deviation the sample deviation for this case / The critical value for 99% of confidence interval is given by
, replacing into formula (b) we got:
So the answer for this case would be n=107 rounded up to the nearest integer