Ila invested $42,000 into an account earning 4% compounded annually. She makes no other deposits and does not withdraw any money
1 answer:
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First of all, we can observe that
So the expression becomes
This means that the expression is defined for every
Now, since the denominator is always positive (when it exists), the fraction can only be positive if the denominator is also positive: we must ask
Since we can't accept 3 as an answer, the actual solution set is
Answer:
The statement provided is True.
Step-by-step explanation:
The exponential function representing growth is given as follows:
Here,
<em>y</em> = final value
<em>y</em>₀ = initial value
<em>k</em> = growth rate
<em>t</em> = time passed
As the function is increasing, then the exponential function representing growth is also increasing.
Thus, the statement provided is True.