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daser333 [38]
3 years ago
9

Given an exponential function for compounding interest, A(x)=P(1.02)^x, what is the rate of change?

Mathematics
2 answers:
Leviafan [203]3 years ago
7 0

Answer:Its 2% guys

Step-by-step explanation:

Rudiy273 years ago
5 0
\bf \qquad \textit{Amount for Exponential Growth}\\\\
A=I(1 + r)^t\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
I=\textit{initial amount}\\
r=rate\to r\%\to \frac{r}{100}\\
t=\textit{elapsed time}\\
\end{cases}\\\\
-------------------------------\\\\
\stackrel{A}{A(x)}=\stackrel{I}{P}(1.02)^{\stackrel{t}{x}}\implies A=P(1+\stackrel{r}{0.02})^x\implies \cfrac{r}{100}=0.02
\\\\\\
r=100\cdot 0.02\implies r=\stackrel{\%}{2}
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