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Intermediate Value Theorem and interest rates Suppose

Calculus: Early Transcendentals | 2nd Edition | ISBN: 9780321947345 | Authors: William L. Briggs ISBN: 9780321947345 167

Solution for problem 57 Chapter 2.6

Calculus: Early Transcendentals | 2nd Edition

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Calculus: Early Transcendentals | 2nd Edition | ISBN: 9780321947345 | Authors: William L. Briggs

Calculus: Early Transcendentals | 2nd Edition

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Problem 57

Intermediate Value Theorem and interest rates Suppose $5000 is invested in a savings account for 10 years (120 months), with an annual interest rate of r, compounded monthly. The amount of money in the account after 10 years is A1r2 = 500011 + r>122120. a. Use the Intermediate Value Theorem to show there is a value of r in (0, 0.08)an interest rate between 0% and 8%that allows you to reach your savings goal of $7000 in 10 years. b. Use a graph to illustrate your explanation in part (a); then approximate the interest rate required to reach your goal.

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Chapter 8 Notes: Adolescents, young adults, & adults Adolescents & Young Adults:  Adolescents & young adults: people age 15­24 {puberty to maturity}  Number of adolescents & YA {young adults} escalated in 1979 due to baby boomers, then decreased again. Approx. 14% of population  Number of kids under 18 living in a single parent house is rising, many kids affected {sometimes psychologically} in the long run when living in a single parent household.  Labor force has remained mostly constant over the years  Decrease in mortality rates {advanced medications and vaccines}  Male mortality rate higher than women  Leading cause of death in adolescents & YA is unintentional injuries {car accidents for example}  Suicide third leading cause of death in adolescents and YA, second leading cause in white adolescent/YA males  Infectious diseases are big cause of adolescent/YA morbidity o STDs also major morbidity risk  Time of trial and experimentation of new things in this time of life o Alcohol, drugs, sexual behaviors, physical activity, weight, etc. Adults:  Age 25­64 years old, life expectancy around 75­80 years. o Leading causes of death until mid­30s: unintentional injuries, cancer, heart disease, suicide, homicide, and HIV o Age 35­45 leading cause is non­communicable diseases  To reduce morbidity, stop smoking, it is 30% responsible for deaths in US, maintain appropriate body weight, etc.

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Chapter 2.6, Problem 57 is Solved
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Textbook: Calculus: Early Transcendentals
Edition: 2
Author: William L. Briggs
ISBN: 9780321947345

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Intermediate Value Theorem and interest rates Suppose