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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Step-by-step explanation:
Perpendicular slopes must be opposite reciprocals of each other: m1 * m2 = –1
4x+ y= 3
y= -4x + 3
slope = -4
the new slope = 1/4
the equation formula y= mx+b
m = new slope
y = (x/4) + b
From the point given (4,-3)
y = -3. x = 4
-3 = 1 + b
b = -4
the equation =