To the nearest thousand , the population of Texas was estimated to be 24,327,000 in 2008 . describe the actual population that T
2 answers:
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Step-by-step explanation:
Simple interest formula
Compound interest formula
a.
Simple interest is $125
b
.
Compound interest is $125
c. the result for both a and b are the same
d.
the simple interest is $375
e
.
the compound interest is $385
f. the result compared, compound interest is $10 more than simple interest
g.
the simple interest is $600
h.
the compound interest is $4869
i. the result from g and h, h is over 8 times bigger than g.
j. interest compound annually is not the same as simple interest, only for the case of a and b seeing that it is for 1 year. but for 2years and above there is difference as seen in c to h
The <em><u>correct answer</u></em> is:
Explanation:
An exponential function is of the form
, where a is the initial population, b is 1 plus the amount of yearly change, and x is the number of years.
For our problem, a, the initial population, is 1500.
The yearly change is 6.3%; 6.3% = 6.3/100 = 0.063. Since it is decreasing, this is negative; 1+(-0.063) = 0.937.
We use t as the number of years.
This gives us