4 years ago

F. The school aims to raise a minimum of $5,250 after paying for all the expenses. If the

1 answer:

7 0

You need 105 children to meet the minimum.

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NikAS [45]

Answer:

The interest rate for the given investment is 18%.

Step-by-step explanation:

We are given that,

The function representing the investment model is, $y=12(1.18)^t$ .

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Since, the function can be re-written as,

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i.e. $y=12(1+0.18)^t$

So, on comparing with the formula for compound interest i.e. $A=P(1+r)^t$ , where 'r' is the interest rate.

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The interest rate for the given investment is 0.18 i.e. 18%.

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