LeandrewP436120 LeandrewP436120
  • 03-11-2022
  • Mathematics
contestada

Justin has $200 in a bank account that earns 3% in annual interest. Does this describe a linear or exponential function? Select the equation.

Justin has 200 in a bank account that earns 3 in annual interest Does this describe a linear or exponential function Select the equation class=

Respuesta :

KadejahF515089 KadejahF515089
  • 03-11-2022

Justin has $200 in a bank account that earns 3% in annual interest.

This can be modeled using an exponential function given by

[tex]f(x)=P(1+r)^x[/tex]

Where P is the invested amount, r is the interest rate in decimal, and x is the number of years.

For the given case,

P = $200

r = 3% = 0.03

So, the exponential function becomes

[tex]\begin{gathered} f(x)=200(1+0.03)^x \\ f(x)=200(1.03)^x \end{gathered}[/tex]

Therefore, the given situation describes an exponential function.

[tex]Exponential\colon f(x)=200(1.03)^x[/tex]

Answer Link

Otras preguntas

What is 1345/99 rounded to the nearest integer
what might be considered a reason for germany's inability to maintain alliances with russia?
write 2.95 as the quotient of two integers
yesenia wants to bake cookies in her electric oven. the oven will transform electrical energy into ________ energy?
one third of the square root of which number is 0.001
Read this excerpt from Little Brother and answer the following questions in complete sentences using proper grammar and punctuation: After a heated classroom d
Expand these: a. (x + 2)(x - 2) b. (y - 4)(y + 2)
what is one of the benefits of genetically modified food?
What is the most crippling form of arthritis called?
the data represents the total number of people who bought bananas each hour at a grocery store. 1,1,5,5,7,8,8,10,12 which box plot correctly represents the data