What is .286 as a fraction?
2 answers:
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Answer:
The exponential function is .
You will have $1,100.55 in the account after 2 years.
Step-by-step explanation:
Compound interest:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Deposit $1000 in a savings account that pays 4.8% interest compounded monthly.
This means that . So
This is the exponential function
How much will you have in your account after 2 years?
This is A(2). So
You will have $1,100.55 in the account after 2 years.
This is a polynomial of degree 2, and remember that complex roots always come in pairs; therefore, in a second degree polynomial you can only have 0 real roots and 2 complex roots, or 2 real roots and 0 complex roots. There is no way you can have 1 real root and 1 complex root because, as stated before, complex (non-real) roots always come in pairs; so the only way of having 1 real root is dumping the polynomial of degree 2 (
) by changing the 14 to 0. That way we'll left with 
which only has one real root:
