MIME-Version: 1.0 Content-Location: file:///C:/8C839393/Withfinancialnewsmakingheadlinesthesedays.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" With financial news making headlines these days, I thought it would = be nice to apply current data to material we are covering in class

 

 

 

Current Events and Exponential Functions

 

With financial news making headlines these days, I tho= ught it would be interesting to apply current data to material we are covering in class.  The following data fig= ures were obtained on the Web on Friday, September 19, 2008.

 

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    1.  

      1.       This is an exponential growth problem.=   Use the formula A =3D Pert, where A is the

              amount owed after t years, P is your share of the dept= , r is the interest rate

              (assume .03) and t is years (use 5).

                 

         

        1.    Refer back= to the monthly payment formulas for loans found in problems 49-52 on page= 298 of the text.

              One method of computing a monthly paym= ent M on a load of L dollars over a   &= nbsp;   period of t years with an interest rate of r is the following:

         

              M =3D Lrk/12(k-1)      where k =3D (1 + r/12)12t

         

         

        Update: The above represents the "good old days."  On May 6, 2009 our dept. was $11,260,764,000,000 (and growing).  Our population was 306,132,653 (and growing).