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Chapter 5: Q. 1 (page 324)
What is the interest due if $500 is borrowed for 6 months at a simple interest rate of 6% per annum?
The interest due is $90.
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Credit Card Interest
A department store charges 1.25% per month on the unpaid balance for customers with charge accounts (interest is compounded monthly). A customer charges $200 and does not pay her bill for 6 months. What is the bill at that time?
Is there any function of the form that increases more slowly than a logarithmic function whose base is greater than 1? Explain.
A thermometer reading 72掳F is placed in a refrigerator where the temperature is a constant 38掳F.
(a) If the thermometer reads 60掳F after 2 minutes, what will it read after 7 minutes?
(b) How long will it take before the thermometer reads 39掳F?
(c) Using a graphing utility, graph the relation between temperature and time.
(d) Using INTERSECT, determine the time needed to elapse before the thermometer reads 45掳F.
(e) TRACE the function for large values of time. What do you notice about y, the temperature?
(a) If \(1000 is invested at 5% compounded monthly, how much is there after 8 months?
(b) If you want to have \)1000 in 9 months, how much do you need to place in a savings account now that pays 5% compounded quarterly?
(c) How long does it take to double your money if you can invest it at 6% compounded annually?
Evaluate each expression using the values given in the table.
(a) (b) (c) (d) (e) (f) .
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