Help please :) show work if possible
1 answer:
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Answer:
B
Step-by-step explanation:
The best - well, only way- is to check a few points.
Namely -1 (unless your eyesight is really poor!), 0, 1, 2, and 3.
Now you can mark all these points in each graph (well, you could if they were on paper and not on a screen) and see which one of the lines passes through all of them. Spoiler alert, it's the B graph.
A represents , B is the one you want, C is
and D looks like
We have been given that you invest $100,000 in an account earning 8% interest compounded annually. We are asked to find the time it will take the amount to reach $300,000.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Let us take natural log on both sides of equation.
Using natural log property , we will get:
Upon rounding to nearest tenth of year, we will get:
Therefore, it will take approximately 14.3 years until the account holds $300,000.