Question

1=0&dnb=0 Time Left:1:23:45 ignment 7 - Exponential Growth Functions Pawanjot Kaur: Attempt 1 Question 1 (2 points) In order to purchase a piece of scientific equipment within the next 8 months, in time for a large project planned, the current profit, $167,613 from sample analyses conducted by your laboratory this month must be allocated to high interest investments. Your Answer: If this principal is invested at a rate of 3.0%, compounded once a month, and you need $558.432 to purchase the equipment, what is the minimum number of whole months will you have to wait to purchase the equipment? Answer Question 2 12 points) A scientist records the internal temperature of a kiln that has been the o limestone calcination reaction as 7870 The mom

Answer 1

P=167,613,

A=558,432

r=3%=0.03

n=12,

We have to find the value of 't',

A=P(1+r/n)^nt.

^{558,432=167613(1+0.03/12)^12t.}

^{3.3317=(1.0025)^12t}

^{taking log on both side}

^{log(3.3317)=12t log(1.0025)}

0.5227=12t(0.0010)

t=43.5583

Thus t~44