A mortgage company approves 79% of the applications. In a random sample 25 applications, what is the expected number that will b
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Given:
Initial value of the stock = $100
Growth factor = 1.5 each week.
To find:
The equation that represents the relationship between the number of weeks past since purchase and the current value of the stock.
Solution:
Let V be the current value of the stock after t week.
The exponential growth model is:
Where, a is the initial value of stock, b is the weekly growth factor, t is the number of weeks.
Substituting , we get
Therefore, the required equation for the given situation is .