Find the simple interest pay for 7 years on a $600 loan at 5% per year.
1 answer:
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Answer:
c) The growth factor per days is 1.08
e) The growth factor per hour is 1.08^{1/24}
Step-by-step explanation:
Given the following data;
P(d) = 10 * 1.08^{d} in thousands.
a. To find the number of insects on day 1;
Day, d = 1
......equation 1
Substituting into the formula, we have;
Therefore, option (a) and (b) are incorrect.
c. To find the growth factor per day;
An exponential function is given by the formula;
.....equation 2
Where;
g is the growth factor of a population.
Comparing eqn 2 with eqn 1;
g = 1.08
Therefore, option (c) is correct.
e. To find growth factor per hour;
From equation 1 above;
Therefore, option e is correct.