A college student invests $8000 in an account that pays interest annually. If the student would like this investment to be worth $1,000,000 in 45 years, what annual interest rate would the account need to pay? In detail, explaining it to someone who never done this before.
Growth in SalarySuppose that a person’s salary is initially $40,000 and could be determined by either f(x) or g(x), wherexrepresents the number of
years of experience.
i. f(x) = 40,000(1.1)^x
ii.f(x) = 40,000 (10 + x)
Would most people prefer that their salaries increase exponentially or logarithmically? Explain.
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