Given the exponential function f(x) = 16(0.75)x, classify the function as exponential growth or decay and determine the percent
2 answers:
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Answer:
$2,589.52
Step-by-step explanation:
We start with the compound interest formula above, where
A = future value
P = principal amount invested
r = annual rate of interest written as a decimal
n = number of times interest is compound per year
t = number of years
For this problem, we have
P = 2000
r = 0.026
n = 2
t = 10,
and we find A.