None of the offered choices is correct.
f(3) = 0.02·2³ = 0.02·8 = 0.16
f(8) = 0.02·2⁸ = 0.02·256 = 5.12
Then the average rate of change is
... (f(8) - f(3))/(8 - 3) = (5.12 -0.16)/5 = 4.96/5 = 0.992
What single percentage change is equivalent to a 15% increase followed by a 16% increase?
1 answer:
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Answer:
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
substitute in the formula above