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Answer:
12. C
13. D
Step-by-step explanation:
12. For interest r on principal P compounded n times per year for t years, the account balance is ...
A = P(1 +r/n)^(nt)
For P=800, r=0.05, n=365, t=6, this becomes ...
A = 800(1 +0.05/365)^2190 . . . . matches choice C
Note: if you're familiar with the formula, you will notice choice C is the only one with 'n' in the right place.
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13. The form of an exponential function is ...
y = a·b^x . . . . . . . . where 'a' is the initial value, and 'b' is the growth factor
The form of the equation eliminates choices A and B.
Here, the initial value is 1.87, eliminating choice C.
Matching the problem statement to the form of the exponential function we see that the equation of choice D is appropriate.
