Investments Refer to Exercise 84. In November of which year will an investment of $4,000 made in November of 2010 first exceed $5,200? HINT [See Example 5; you saw this exercise before in Section 1.2.]
84. Investments In November 2010, ING Direct was offering 2.4% interest on its Orange Savings Account, with interest reinvested quarterly. Find the associated exponential model for the value of a $4,000 deposit after t years. Assuming this rate of return continued for 8 years, how much would a deposit of $4,000 in November 2010 be worth in November 2018? (Answer to the nearest $1.) HINT [See Example 3; you saw this exercise before in Section 1.2.]
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