The temperature is -3°F at 7:00 A.M. During the next 4 hours, the temperature increases 21°F. What is the temperature at 11:00 A
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Answer
Exponential function is in the form of : .....[1]
where a is the initial amount and r is the growth rate and (1+r) is the growth factor.
Given the function:
On comparing with equation [1] we have;
Initial amount(a) = 12
1+r = 1.05
Subtract 1 from both sides we get;
or 5%
Growth (r) = 0.05 or 5%
Now, evaluate the function for t = 5 we have;
Substitute the value of t=5 in the given function we have;
Therefore, the value of function when t=5 to the nearest tenth is 15.3
Using simple interest, and considering a loan of $5,000, it is found that:
a) Her monthly payment is of $74.17.
b) She will pay back $8,900.
c) The total interest amount is of $3,900.
The amount of money after <u>t years</u> in <em>simple interest</em> is modeled by:
In which:
- A(0) is the initial amount.
- r is the interest rate, as a decimal.
In this problem:
- The loan is of $5,000, hence
.
- The APR is of 7.8%, hence
- 10 years, hence
Item b:
She will pay back $8,900.
Item a:
$8,900 will be paid in 10 x 12 = 120 months, hence:
Her monthly payment is of $74.17.
Item c:
<u>Loan of $5,000, pays back $8,900</u>, hence:
8900 - 5000 = 3,900
The total interest amount is of $3,900.
A similar problem is given at brainly.com/question/13176347