What is the quotient of 55 divided by 5?
2 answers:
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Answer:
The monthly growth rate is 3.5%.
Step-by-step explanation:
The exponential growth function is given as follows:
Here,
<em>y</em> = final value
<em>a</em> = initial value
<em>r</em> = growth rate
<em>x</em> = time taken
The provided expression for the monthly growth of membership in the new drama club at a school is:
Comparing this function with the exponential growth function:
Then value of <em>r</em> is 0.035 or 3.5%.
Thus, the monthly growth rate is 3.5%.
The value would be 829.89.
The formula we use is
,
where A is the total amount, p is the principal, r is the rate expressed as a decimal number, n is the number of times per year the interest is compounded, and t is the number of years.
We will use 800 for p; 5.25/100 = 0.0525 for r; 365 for n; and (255/365) for t (since it is not a full year):
The formula we use is
where A is the total amount, p is the principal, r is the rate expressed as a decimal number, n is the number of times per year the interest is compounded, and t is the number of years.
We will use 800 for p; 5.25/100 = 0.0525 for r; 365 for n; and (255/365) for t (since it is not a full year):