Answer:
The growth rate he needs to achieve his goal is approximatelly 19.8%
Step-by-step explanation:
Since the sum will be compounded continuously we have to use the appropriate formula given below:
M = C*e^(r*t)
Where "M" is the final amount, C is the initial amount, r is the interest rate and t is the time elapsed. Since Sung Lee will invest that sum at 18 years old and he wants to recieve the return at 25, then the time elapsed is given by 25 -18 = 7 years. We can now apply the data to the formula:
16000 = 4000*e^(r*7)
4000*e^(7*r) = 16000
e^(7*r) = 16000/4000 = 4
ln[e^(7*r)] = ln(4)
7*r = ln(4)
r = ln(4)/7 = 0.198
The rate of interest is given by (r)*100%, so we have (0.198)*100% = 19.8%.
9514 1404 393
Explanation:
We can start with the relations ...


Answer:

Step-by-step explanation:
we want to figure out the general term of the following recurrence relation

we are given a linear homogeneous recurrence relation which degree is 2. In order to find the general term ,we need to make it a characteristic equation i.e
the steps for solving a linear homogeneous recurrence relation are as follows:
- Create the characteristic equation by moving every term to the left-hand side, set equal to zero.
- Solve the polynomial by factoring or the quadratic formula.
- Determine the form for each solution: distinct roots, repeated roots, or complex roots.
- Use initial conditions to find coefficients using systems of equations or matrices.
Step-1:Create the characteristic equation

Step-2:Solve the polynomial by factoring
factor the quadratic:

solve for x:

Step-3:Determine the form for each solution
since we've two distinct roots,we'd utilize the following formula:

so substitute the roots we got:

Step-4:Use initial conditions to find coefficients using systems of equations
create the system of equation:

solve the system of equation which yields:

finally substitute:


and we're done!
Answer:
4
Step-by-step explanation:
Exact Form:
x
=
ln( 18)
---------
ln (2)
Decimal Form:
x=4.16992500
…
Step-by-step explanation:
Standard polynomial is:

Leading co effecient is:
-20