The annual rate of increase of an investment's value is proportional to its value, specifically 3.5% of the value. V V\,V is the value in thousands of pounds and t t\,t is the time in years.
Write down a differential equation for this relationship.
Show that V=Ae0.035tV = Ae^{0.035t}V=Ae0.035t where A A\,A is a constant.
Given that the initial value of the investment is £12,000. Find the value after 5 years, giving your answer to the nearest £10.
425 exam-style questions on OCR A Level Maths 1.7 Differentiation, covering 1.7.1 Derivative as gradient of the tangent, 1.7.2 Gradient of the tangent at a point, 1.7.3 Sketching the gradient function, 1.7.4 Second derivatives, 1.7.5 Second derivative as rate of change of gradient, 1.7.6 Convex, concave and points of inflection (A-level only), 1.7.7 Differentiation from first principles for powers of x, 1.7.8 Differentiation from first principles for sin x and cos x (A-level only), 1.7.9 Differentiating x^n, 1.7.10 Differentiating e^(kx) and a^(kx) (A-level only), 1.7.11 Differentiating trigonometric functions (A-level only), 1.7.12 Derivative of ln x (A-level only), 1.7.13 Tangents and normals, 1.7.14 Stationary points, 1.7.15 Increasing and decreasing functions, 1.7.16 Points of inflection (A-level only), 1.7.17 Product and quotient rules (A-level only), 1.7.18 Chain rule (A-level only), 1.7.19 Parametric and implicit differentiation (A-level only), 1.7.20 Constructing differential equations (A-level only), and 1.7 Differentiation. Each one has a worked solution and a mark scheme showing where the marks go.