MATHEMATICS · Multi-part · AP · AP Precalculus · Exponential and Logarithmic Functions · Exponential and Logarithmic Functions
Problem
Two investment funds, A and B, grow continuously at different constant rates.
• Fund A is started with ₹8\,00\,000 and grows at 4\% per annum.
• Fund B is started on the same day with ₹5\,00\,000 and grows at 5.5\% per annum.
Answer the following.
(i) Obtain expressions for A(t) and B(t), the values (in rupees) of the two funds after t years.
(ii) Find, correct to two decimal places, the time (in years) after which Fund B first exceeds Fund A in value.
(iii) Determine the value of each fund at the time obtained in part (ii).