Problem

Future Value The future value of $1400 invested at a fixed interest rate compounded...

Future Value The future value of $1400 invested at a fixed interest rate compounded continuously is given in the table on page 138.

a. Using the data, is it possible to calculate the average rate of change in the balance from the middle of the fourth year through the end of the fourth year? Explain how this could be done or why it cannot be done.

b. Find a model for the data and use the model to calculate the percentage change and the average rate of change in the balance over the last half of the fourth year.

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Solutions For Problems in Chapter 2.1