if £5000 Is placed into a bank account that pays 2% compound interest per year, how much will be in the account after two years
1 answer:
You might be interested in
Due to length restrictions, we kindly invite to read the explanation of this question for further details on functions.
<h3>What are the characteristics of each of the three functions?</h3>
a) In this part we must evaluate each of the three functions at the given value of x:
Case 1
f(10) = 5 · 10 + 7
f(10) = 57
Case 2
f(10) = 10² + 6
f(10) = 106
Case 3
f(10) = 2¹⁰ + 3
f(10) = 1027
b) In this part we must evaluate each of the three functions at the given value of x:
Case 1
f(100) = 5 · 100 + 7
f(100) = 507
Case 2
f(100) = 100² + 6
f(100) = 10006
Case 3
f(100) = 2¹⁰⁰ + 3
f(100) = 1.267 × 10³⁰ + 3
c) In this part we must evaluate each of the three functions at the given value of x:
Case 1
f(1000) = 5 · 1000 + 7
f(1000) = 5007
Case 2
f(1000) = 1000² + 6
f(1000) = 1000006
Case 3
f(1000) = 2¹⁰⁰⁰ + 3
f(1000) = (1.268 × 10³⁰)¹⁰ + 3
f(1000) = 10.744 × 10³⁰⁰ + 3
f(1000) = 1.074 × 10³⁰¹ + 3
e) The <em>third</em> function increases the fastest.
f) In this part we need to compare the <em>third</em> function with respect to the <em>first</em> and <em>second</em> functions:
5 · x + 7 = 2ˣ + 3
2ˣ - 5 · x = 4
The solutions of the equation are x = - 0.675 and x = 4.81. The function will exceed the other <em>first</em> function at x = 4.81.
x² + 6 = 2ˣ + 3
2ˣ - x² = 3
The solution of the equation is x = 4.588. The function will exceed the other <em>second</em> function at x = 4.588.
g) Yes, <em>exponential</em> functions with bases greater than 1 will surpass <em>polynomic</em> function at any point x such that x > 0.
h) The domain represents the set of x-values of a function and the range represents the set of y-values of a function. Then, the domain and range of each function is:
Case 1
Domain - All <em>real</em> numbers.
Range - All <em>real</em> numbers
Case 2
Domain - All <em>real</em> numbers.
Range - [6, +∞)
Case 3
Domain - All <em>real</em> numbers.
Range - (3, +∞)
To learn more on functions: brainly.com/question/12431044
#SPJ1
Answer: He earned 0.831% interest in total.
Step-by-step explanation:
Given: Shawn earned $2.77 per day for three days as interest on his $1,000.00 investment.
Interest per day = $2.77
Interest in 3 days = 3 x ($2.77)
= $8.31
Invested amount= $1000
Required percentage of earnings =
Hence, he earned 0.831% interest in total.
Applying an exponential property, it is found that the function that will generate the same note sequence as function f(n) is given by:
B.
The function for the node sequence is defined by:
A function that will the same note sequence as function f(n) has the same initial value of 6. Additionally, applying an exponential property, we have that:
Hence option B is correct.
More can be learned about exponential properties at brainly.com/question/25537936
#SPJ1
Answer:
Interest in 3 years = $456.52
Step-by-step explanation:
As we know the the formula of compound interest
Total amount =
Here n = number of times amount is compounded
r = rate of interest
t = period
Here A = $2500
r = 0.0575
n = 1 (compounded annually)
t = 3 years
Therefore amount after 3 years
P =2500(1.0575)³
= 2500×1.18
= $2956.52
We have to calculate the interest then
Interest = $2956.52-$2500 = $456.52
So after 3 years interest gained = $456.52