I don't know how to explain it
2 answers:
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Answer:
$311.20
Step-by-step explanation:
Here we are required to use the Compound interest formula for finding the Amount at the end of 9th year
The formula is given as
Where ,
A is the final amount
P is the initial amount = $200
r is the rate of interest = 5% annual = 0.05
n is the frequency of compounding in a year ( Here it is compounding monthly) = 12
t is the time period = 9
Now we substitute all these values in the formula and solve for A
Hence the amount after 9 years will be $311.20
Answer:
-Exponential Decay
-Decay factor is (1-0.05)
Step-by-step explanation:
-Given that the number decreases by a defined rate each year from the initial size by 5%,
-This is an exponential decay function of the form:
Where:
is the quantity/size after time t
is the initial size
is the rate of decay
-Our function can the be written as
Hence, the decay rate/factor is 0.05
#Alternatively
The exponential decay can be of the form:
Where:
y is the size at time x, a is the initial size, x is time and b is the decay factor.
b is of the form
Hence, the decay factor is (1-0.05)