Find the limit:
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2 answers:
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Step 1. Simplify 
to 
Step 2. Simplify to 
Step 3. Simplify
to 
Step 4. Cancel
on both sides
Step 5. Multiply both sides by
(the LCM of 
)
Step 6. Expand
Step 7. Subtract
from both sides
Step 8. Simplify
to 
Step 9. Multiply both sides by
Done! :) Hope this helps! :)
Step 2. Simplify
Step 3. Simplify
Step 4. Cancel
Step 5. Multiply both sides by
Step 6. Expand
Step 7. Subtract
Step 8. Simplify
Step 9. Multiply both sides by
Done! :) Hope this helps! :)
Answer:
$800,500 (nearest dollar)
Step-by-step explanation:
The given scenario can be modeled as an <u>exponential equation</u>.
<u>General form of an exponential function</u>:
where:
- a is the initial value (y-intercept)
- b is the base (growth/decay factor) in decimal form
- x is the independent variable
- y is the dependent variable
If b > 1 then it is an increasing function
If 0 < b < 1 then it is a decreasing function
The initial value (a) is the value of the investment.
Therefore, a = 1,000,000.
If the investment <u>decreases</u> by 2.2% each year, then it will be 97.8% of the previous year.
Therefore, b = 97.8% = 0.978.
Substitute these values into the formula to create a general equation for the scenario:
(where x is the time, in years).
To find the value of the investment after 10 years, substitute x = 10 into the formula:
Therefore, the value of the investment after 10 years is $800,500 (nearest dollar).
Learn more about exponential functions here: