$1400 is deposited in an account with an interest rate of r% per year, compounded monthly. At the end of
8 years, the balance in the account is given by A = 1400(1 +r/1200)^96. Find the rate of change of A with respect to
r when r = 8.

Question

$1400 is deposited in an account with an interest rate of r% per year, compounded monthly. At the end of
8 years, the balance in the account is given by A = 1400(1 +r/1200)^96. Find the rate of change of A with respect to
r when r = 8.

rob1525 · Answer

Im wondering if their asking to calculate the first derivative of the function then pugging in 8 for the derived function. Does that sound familiar?

anonymous · Answer

im not sure,  they're asking for rate of change of A, i think chain rule is involved wihtin this problem so it would be derived?

anonymous · Answer

This question seems relatively simple if you are know how to use derivatives. Just take the derivative with respect to r for that equation
 $$\frac{ dA }{ dr } = 1400*96*(1+\frac{ r }{ 1200 })^{95}*\frac{ 1 }{ 1200 }$$
then simplify

anonymous · Answer

i forgot the 1/1200 at the end, simple formula mistakes... thank you

anonymous · Answer

your welcome do not forget to close the question and medal.

anonymous · Answer

forget the medal part was working on my own calculus question