Money is borrowed at 9% simple interest. After one year, $1178.29 pays off the loan. How much was originally borrowed?

1 answer:

7 0

$\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\dotfill&1178.29\\ P=\textit{original amount deposited}\dotfill \\ r=rate\to 9\%\to \frac{9}{100}\dotfill &0.09\\ t=years\dotfill &1 \end{cases} \\\\\\ 1178.29=P(1+0.09\cdot 1)\implies 1178.29=P(1.09)\implies \cfrac{1178.29}{1.09}=P \\\\[-0.35em] \rule{34em}{0.25pt}\\\\ ~\hfill 1081=P~\hfill$

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A large company put out an advertisement in a magazine for a job

vova2212 [387]

Answer:

C(19)=12 responses

Step-by-step explanation:

Exponential Decay Function

The exponential function is frequently used to model natural growing or decaying processes, where the change is proportional to the actual quantity.

An exponential decaying function can be expressed as follows:

$C(t)=C_o\cdot(1-r)^t$

Where:

C(t) is the actual value of the function at time t

Co is the initial value of C at t=0

r is the decaying rate, expressed in decimal

The company puts out an advertisement for a job opening. Initially, the company got 90 responses to the advertisement. Each day, the responses declined by 10%.

This is an example where the decay model can be used to calculate the responses to the advertisement at the day t.

The initial value is Co=90, the decaying rate is r=10% = 0.10. The model is written as:

$C(t)=90\cdot(1-0.1)^t$