The future value of an amount P invested at interest rate r (in decimals), compounded n times per year and for n years is given by:
Plugging the values,
Hence the future value is
The interest earned is
According to a study by Dr. John McDougall of his live-in weight loss program at St. Helena Hospital, the people who follow his program lose between 6 and 15 pounds a month until they approach trim body weight. Let's suppose that the weight loss is uniformly distributed. We are interested in the weight loss of a randomly selected individual following the program for one month. Give the distribution of X. Enter an exact number as an integer, fraction, or decimal.
The number of full-time and part-time employees of an online retailer increased exponentially from 69 thousand in 2011 to 306.9 thousand in 2016.
b) Use the function found in part (a) to estimate the number of employees in 2017.
c) According to this model, when will there be one million employees?