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nadezda [96]
2 years ago
10

1.08t can be written as (1.081/12)12t to give the approximate equivalent monthly interest rate based on an annual rate of 8%. Us

e the properties of exponents to transform the expression into a single exponent expression
Mathematics
2 answers:
viktelen [127]2 years ago
8 0

Answer:

(1.006)^12t

Step-by-step explanation:

I just did it on UsaTestPrep.

(1.08^1/12)^12t ≈ (1.006)^12t

Hope this helps!

kobusy [5.1K]2 years ago
6 0
<span>Because <span>t <span>is given in years and 1.08 <span>= <span>1 <span>+ <span>0.08, the annual percent increase
<span>is 8%.
To find the monthly percent increase that gives an 8% annual increase,
<span>use the fact that
t = \frac{1}{12} * 12 t<span><span><span><span>
<span><span><span><span>and the properties of exponents to rewrite the
model in a form that reveals the monthly growth rate.</span></span></span>
</span></span></span></span></span></span></span></span></span></span></span></span></span></span>
1.08^{t} &#10;= 1.08^{(1/12)(12t)} &#10;= (1.08^{1/12}) ^{12t} &#10;=  1.0064634^{12t}
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