Functions Modeling Change: A Preparation for Calculus, 5th Edition

Published by Wiley
ISBN 10: 1118583191
ISBN 13: 978-1-11858-319-7

Chapter 4 - Exponential Functions - 4.4 Applications to Compound Interest - Exercises and Problems for Section 4.4 - Exercises and Problems - Page 167: 4


A factor of 1.65

Work Step by Step

We find that the investment must increase by: $$ \frac{(1.05)^{20} -1 }{1} = \frac{2.65-1}{1} =1.65$$
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