Answer:
Step-by-step explanation:
has solutions of
and
, which expands to
A loan is borrowed for $1200 for 2 years at a compound interest of 6%. Interest is compounded annually. What is the compound amo
2 answers:
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The exponential equation is
An exponential function is represented as:
The base is 3.
So, we have:
It is stretched vertically by 2/3.
So, we have:
When reflected over the y-axis, we have:
An asymptote of y = 2, makes the function becomes
Lastly, it passes through the point (0, 3.5).
So, we have:
This gives
Subtract 2 from both sides
Multiply by 3/2
Take the logarithm of both sides
log(2.25) = h * log(3)
Solve for h
h = 0.74
Substitute h = 0.74 in
Hence, the exponential equation is
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