Eva invested $10,000 in a savings account. If the interest rate is 3.5%, how much will be in the account in 10 years by
1 answer:
Answer:
The total in the account after 10 years would be: $14,190.68
Step-by-step explanation:
Recall the formula for continuous compounding:
where "A" is the accrued value after t years (what we need to find), "P" is the principal invested (in our case $10,000), "r" is the interest rate in decimal form (in our case r = 0.035), and "t" is the time in years (in our case t = 10). Therefore the formula becomes:
Therefore the total in the account after 10 years would be: $14,190.68
You might be interested in
Answer: Third option.
Step-by-step explanation:
By definition, Exponential functions have the following form:
Where "b" is the base ( and
), "a" is a coefficient (
) and "x" is the exponent.
It is importat to remember that the "Zero exponent rule" states that any base with an exponent of 0 is equal to 1.
Then, for an input value 0 () the output value (value of "y") of the set of ordered pairs that could be generated by an exponential function must be 1 (
).
You can observe in the Third option shown in the image that when ,
Therefore, the set of ordered pairs that could be generated by an exponential function is the set shown in the Third option.