I only need help on number 6 plzzzz help
2 answers:
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Answer:
The statements (c) and (d) are correct.
Step-by-step explanation:
The general formula to compute the compound interest is:
Here,
P = principal amount
r = rate of interest
t = time
The function provided to determine the amount of money compounded in Will's savings account is:
On comparing the two equations it can be seen that:
So the interest rate is, 3%.
So, the number 1.03 implies that Will's savings account increases by 3% each year.
And the growth factor of Will's savings account is 1.03.
Thus, the statements (c) and (d) are correct.