Answer:
Step-by-step explanation:
By definition, the average rate of change of a function f over an interval [a,b] is given by
compute the quantity
for all the three function
Average rate of change of f:
We will simply use the table to check the values for f(3) and f(0):
Average rate of change of g:
We will use the graph to to check the values for g(3) and g(0):
Average rate of change of h:
We can plug the values in the equation to get h(3) and h(0):
And so the average rate of change is
Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.
Step-by-step explanation:
The given is,
Investment = $ 8000
No. of years = 15 years
Interest rate, i = 3.1 %
( compounded monthly )
Step:1
For for calculating future value with compound interest monthly,
.................(1)
Where,
A = Future amount
P = Initial investment
r = Rate of interest
n = Number of compounding in a year
t = Time period
Step:2
From given values,
P = $8000
r = 3.1%
t = 15 years
n = 12 ( for monthly)
Equation (1) becomes,
A = $ 12728.48
Result:
Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.