Need help with Part B.
1 answer:
You might be interested in
Answer:
See Explanation
Step-by-step explanation:
The question is incomplete. I will assume the function is:
Required
Determine the rate of decay
In an exponential function ,
The decay rate of the function is calculated as:
By comparison:
So, the equation becomes:
Make r the subject
<em>The rate of decay is 0.14</em>
Answer:
<em>Mrs. Adams will earn $3,120 of interest at the end of year 8.</em>
Step-by-step explanation:
<u>Simple Interest</u>
In simple interest, the money earns interest at a fixed rate, assuming no new money is coming in or out of the account.
We can calculate the interests earned by an investment of value A in a period of time t, at an interest rate r with the formula:
Mrs. Adams deposited an amount of A=$12,000 into an account that earns an annual simple interest rate of r=3.25%. We must find the interest earned in t=8 years. The interest rate is converted to decimal as:
The interest is then calculated:
Mrs. Adams will earn $3,120 of interest at the end of year 8.