if you deposit $10000 at 11%(simple interest), how long will it be until the total amount in the account is $21000?
1 answer:
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Answer:
Option C. exponential decay function
Step-by-step explanation:
In this problem we have a exponential function of the form
where
y ---> is the money that is in the bank
x ----> number of days
a ---> is the initial value or y-intercept
b is the base of the exponential function
r ---> is the rate of change
b=(1+r)
In this problem we have that
Each day 1/2 of the money that is in bank value is removed
so
---> is negative because is a decreasing function
The value of b is equal to
The value of b is less than 1
b<1
That means -----> Is a exponential decay function