<u>Compounded</u><u> continuously the balance grows at a continuous rate of </u><u>1.7%.</u>
What is compound interest ?
- Compound interest is when you earn interest on both the money you've saved and the interest you earn.
- So let's say you invest $1,000 (your principal) and it earns 5 percent (interest rate or earnings) once a year (the compounding frequency).
The model used for continuous compounding is
f(t) = Pe^(rt)
where P is the principal amount, and r is the interest rate being compounded. Assuming a typo in your given equation, you have
f(t) = 1000·e^(0.017t)
Matching the various parts of the equation, we see that P = 1000 and r = 0.017 = 1.7%.
Therefore, the balance grows at a continuous rate of 1.7%.
Learn more about compound interest
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Answer:
y=-x +7 is the slope-intercept form and the graph is shown in the attachment.
Step-by-step explanation:
The given equation is
We solve for y to get:
This is now of the form, y=mx+c
This is called the slope-intercept form.
Since the slope is negative, the graph slopes backwards. Also the y-intercept is 7, so the graph will intersect the y-axis at 7
<span>The answer is $4,955.30</span>
Answer:
A is correct ..............
