With an initial deposit of $100, and an interest rate of 8%, the balance in a bank
Chapter 2, Problem 7(choose chapter or problem)
With an initial deposit of $100, and an interest rate of 8%, the balance in a bank account after t years is f (t) = 100(1.08)t dollars. (a) What are the units of the rate of change of f (t)? (b) Find the average rate of change over [0, 0.5] and [0, 1]. (c) Estimate the instantaneous rate of change at t = 0.5 by computing the average rate of change over intervals to the left and right of t = 0.5
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