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:
Step-by-step explanation:
The point slope form of a line is where
. We write
Since the line is parallel to the line shown it will have the same slope. To find m, count the slope from each marked point on the graph. Count the rise then the run and create a fraction rise/run. The slope is 6/4 which simplifies to 3/2. Now substitute it for m.