Grace deposits $1000 in a mutual fund earning 9.5% annual interest, compounded monthly. Write an exponential function that model
s this situation where y is the amount of Grace's investment and x is time in years.
1 answer:
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Answer:
C. 0.23°
Step-by-step explanation:
We are given
Re-arranging this equation (multiply by 32 on both sides and divide by on both sides gives us:
or
Substituting for, r and v we get