Jack purchased a car for $22,000. The bank gave him an annual interest rate of 4.3%. He will make monthly payments for 6 years (
2 answers:
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Given:
f(x) is an exponential function.
To find:
The value of f(0.5), to the nearest hundredth.
Solution:
The general exponential function is
For, x=-0.5,
...(i)
For, x=1.5,
...(ii)
Divide (ii) by (i).
Taking square root on both sides, we get
Putting b=0.882 in (i), we get
Now, the required function is
Putting x=0.5, we get
Therefore, the value of f(0.5) is 23.81.