William has $27,000 invested in stock A and stock B. Stock A currently sells for $30 a share and stock B sells for $90 a shar
e. If stock B doubles in value and stock A goes up 50%, his stock will be worth $49,500. How many shares of each stock does he own?
1 answer:
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Answer:
The monthly growth rate is 3.5%.
Step-by-step explanation:
The exponential growth function is given as follows:
Here,
<em>y</em> = final value
<em>a</em> = initial value
<em>r</em> = growth rate
<em>x</em> = time taken
The provided expression for the monthly growth of membership in the new drama club at a school is:
Comparing this function with the exponential growth function:
Then value of <em>r</em> is 0.035 or 3.5%.
Thus, the monthly growth rate is 3.5%.