In August 2013, E-TRADE Financial indexed fund was tumbling by 1.5% (per annum). Given that the...
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In August 2013, E-TRADE Financial indexed fund was tumbling by 1.5% (per annum). Given that the interest is compounded monthly: a) Determine the associated exponential model for the value of a $5,000 deposit after t years. (5 points) b) Assuming that this rate of return continued for 3 years, how much would a deposit of $5,000 in August 2013 be worth in August 2016? (Answer to the nearest dollar) (5 points) c) How many months will it take before the initial investment drops by a tenth should the falling trend last much longer? (Answer to the nearest month) (5 points) In August 2013, E-TRADE Financial indexed fund was tumbling by 1.5% (per annum). Given that the interest is compounded monthly: a) Determine the associated exponential model for the value of a $5,000 deposit after t years. (5 points) b) Assuming that this rate of return continued for 3 years, how much would a deposit of $5,000 in August 2013 be worth in August 2016? (Answer to the nearest dollar) (5 points) c) How many months will it take before the initial investment drops by a tenth should the falling trend last much longer? (Answer to the nearest month) (5 points)
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