Check the picture below.
NEED HELP ON THIS ASAP
1 answer:
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Answer:
B) 25.82%
Explanation:
This equation will be in the form
,
where a is the initial value, x is the number of time periods and r is the annual rate of growth.
We know the initial value, a, is 0.12.
We know that x, the amount of time, is 2014-1969 = 45.
We know that y, the total value, is 3700.
This gives us the equation
Divide both sides by 0.12:
To find this, we must next take the 45th root. This is the same as raising to the power of 1/45:
Subtract 1 from each side:
1.2582-1 = 1+r-1
0.2582 = r
To convert this to a percent, multiply by 100:
0.2582(100) = 25.82%