Answer: They were not correct it was bigger by 2.5 so the people were wrong
Answer:
19/24
Step-by-step explanation:
multiply 1/8 by 3 and 2/3 by 8, then add the numerators
A]
Exponential function is given by the form:
y=a(b)ˣ
where:
a=initial value
b=growth factor
From the question:
a=$8000, b=1.015,
thus the exponential growth function of this situation is:
y=8000(1.015)ˣ
b] The value of the collection after 7 years will be:
x=7 years
Using the formula:
y=8000(1.015)ˣ
plugging the values we get:
y=8000(1.015)⁷
y=8,878.76
Answer: $8,878.76
