Mathematics, 22.07.2019 22:00 spearjj

Solve this application using logarithms. at his son's birth, a man invested $2,000 in savings at 6% for his son's college education. approximately how much, to the nearest dollar, will be available in 19 years? ≈$ at his son's birth, a man invested $2,000 in a mutual fund earning 6.5% for his son's college education. approximately how much, to the nearest dollar, will be available in 19 years? real value ≈ $ for each of the man’s investments described above, how many years will it take for each investment to double in value? round your answers to the nearest whole year. years to double savings account years to double mutual fund

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Part A:

Given that a man invested $2,000 in savings at 6%. In 19 years, the value of the investment will be:

$FV=2000(1+0.06)^{19} \\ \\ =2000(1.06)^{19}=2000(3.0256) \\ \\ \approx\$6,051$

Part B:

Given that a man invested $2,000 in a mutual fund earning 6.5%. In 19 years, the value of the investment will be:

$FV=2000(1+0.065)^{19} \\ \\ =2000(1.065)^{19}=2000(3.3086) \\ \\ \approx\$6,617$

Part C:

Given that a man invested $2,000 in savings at 6%. The number of years it will take for the value of the investment to double is obtained as follows:

Let the required number of years be n, then

$2000(1.06)^n=4000 \\ \\ \Rightarrow(1.06)^n=2 \\ \\ \Rightarrow n\log{(1.06)}=\log{2} \\ \\ \Rightarrow n= \frac{\log{2}}{\log{1.06}} = \frac{0.6931}{0.0583} =11.9\approx12$

Therefore, it will take the savings 12 years to double in value.

Part D:

Given that a man invested $2,000 in a mutual fund earning 6.5%. The number of years it will take for the value of the investment to double is obtained as follows:

Let the required number of years be n, then

$2000(1.065)^n=4000
 \\ \\ \Rightarrow(1.065)^n=2 \\ \\ \Rightarrow n\log{(1.065)}=\log{2} 
\\ \\ \Rightarrow n= \frac{\log{2}}{\log{1.065}} = \frac{0.6931}{0.0630}\approx11$

Therefore, it will take the investment 11 years to double in value.

Answer from: Quest

see below

step-by-step explanation:

7. there are 10 data points in the set. the middle point is between 5 and 6. the middle point in the top half is 8 and the middle point in the bottom half is 3. to find the iqr , take point 8 and subtract point 3

mid term point 8 = 100 point 3 = 88

iqr = 100-88 = 12

final point 8 = 93 point 3 = 78

iqr = 93 - 78 = 15

the final has the greatest iqr

6. b - there is a high data value that causes the data set to be asymmetrical for the males: the data for males are high and asymmetrical . there is an outlier for the males that skews the data

5. the iqr is a better measure of spread for the movies and basketball games. since the basketball game has an outlier, we do not want to use standard deviation for measurement.

3. the exam median is much higher than the class median. the median line is farther to the right on the exams

2. there is no way to tell what the means are from the box and whisker plots.

Answer from: Quest

its c or d take a lucky guess my dude

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Solve this application using logarithms. at his son's birth, a man invested $2,000 in savings at 6%...