In order to save for college, you invested your summer savings of $2,000 into an account at the bank. The interest rate is 3.2% and the interest is compounded continuously for four years. Answer the following questions to the best of your knowledge: What type of function is represented by the above question? What does “compounded continuously” mean? What is the difference between compounding continuously and simple interest?
Exponential and Logarithmic Functions
Converting from log to exp. Convert to an exponential and solve
Properties of Logarithms (Very important for logarithmic differentiation) 1) 2) 3)
Ex1) Condense and write as a single log Ex2) Condense and write as a single log
Solving Logarithmic and Exponential Functions Ex1) Solve ***Change of base formula***
Ex2) Solve Ex3) Solve
Ex4) Solve Ex5) Solve
Ex6) Solve Ex7) Solve
Pg. 355 (11-33odd, 55-75odd, not 61 or 63---No calculators)