Y = a(b^x)

y=mx + b is the equation of a line. It is a linear function because it has a constant rate of change.

y = a(b^x) is an exponential function because it has has an exponent and its rate of change is not constant

4 0

3 years ago

Malorie took out a loan to build a deck.The loan was for $15000 and had a 7.5% simple interest rate. If she paid a total of $1,6

attashe74 [19]

Answer:

The final value (FV) that is paid in a loan (which is the sum of the capital and the interests) equals the present value (PV) of the loan multiplied by $(1+i\times{n})$ , in a simple interest context, where "n" equals the periods of time and "i" equals the interest rate valid for that periodicity.
Then $FV=PV\times(1+i\times{n})$ . In this case, PV=$15,000; final value equals FV=$15,000+1,687.5= $16,687.5.
We should clear "n" from our equation, which means: $16,687.5=15,000\times(1+n\times0.075)$ . Dividing both sides by 15,000, then subtracting 1 both sides, and finally dividing by 0.075 both sides, results in n=1.5.
Then, Malorie had the loan for one an a half periods.

3 0

3 years ago