Question

23. Suppose the number of expert gamers in California is 52,400 and is growing 20% each year. Predict the number of experts after 5 years.






24. The population of bacteria in your messy room is 36,725 and is growing at a rate of 11% each month. What would the population be after 6 months if you don’t clean your room?






25. The current popularity of the Kardashians is about 82,302 fans.gladly, this is falling at a rate of 50% each year. How many fans will the Kardashians have in 4 years?






26. The number of active Snapchat users is about 23,000,000 people. This number is falling at a rate of 5% each month. How many Snapchat users will there be in one year?






27. You put $5,000 in an account that is compounded quarterly. The annual interest rate, r, is 4%. How much will be in the account after 10 years?






28. You just got a job and you want to start saving for a car. You put $1500 in a savings account that is compounded monthly. The annual interest rate is 8.5% How much money will you have saved in 3 years?


If someone could simply Explain these to me-it would mean alot

Answer 1

23.
52,400 * 0.2 * 5

24. Same as 23. Multiply the number of bacteria by the rate by the time.

If you post your answers and work for these problems, we'll be glad to check them.

Answer 2

23. 52,400 + 52,400*0.2*5 =
24. 36,725 + 36,725*0.11*6 =
25. 82,302 - 82302*05*4 =. I believe it should be 5% instead of 58%. Check textbook.
26. Same procedure #25, but change 1yr. to 12 mo.
27. P = Po(1+r)^n,
Po = $5,000,
r = 0.04/4 = 0.01 = quarterly % rate.
n = 4 Comp./yr. * 10 yrs. = 40 Compounding periods.

Answer 3

28. P = Po(1+r)^n,
Po = $1500,
r = 0.085/12 = 0.0071 = Monthly % rate.
n = 1comp./mo. * 36mo. = 36 Compounding periods.