Advance Algebra Logarithm Task
1 answer:
9514 1404 393
Answer:
3.65% monthly
Step-by-step explanation:
The same amount is invested for the same period in all accounts, so we only need to determine the effective annual rate in order to compare the accounts.
For compounding annual rate r n times per year, the effective annual rate is ...
(1 +r/n)^n -1
For the same rate r, larger values of n cause effective rate to be higher. As a consequence, we know that 3.65% compounded quarterly will not have as great a yield as 3.65% compounded monthly. The effective rate for the monthly compounding is ...
(1 +0.0365/12)^12 -1 = 3.712%
The effective rate for continuous compounding is ...
e^r -1
For a continuously compounded rate of 3.6%, the effective annual rate is ...
e^0.036 -1 = 3.666%
This tells us the best yield is in the account bearing 3.65% compounded monthly.
_____
If i is the effective annual rate of interest as computed by the methods above, then the 10-year account balance will be ...
10000×(1 +i)^10
This is the formula used in the spreadsheet to calculate the balances shown.
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Answer:
The last listed functional expression:
Step-by-step explanation:
It is important to notice that the two linear expressions that render such graph are parallel lines (same slope), and that the one valid for the left part of the domain, crosses the y-axis at the point (0,2), that is y = 2 when x = 0. On the other hand, if you prolong the line that describes the right hand side of the domain, that line will cross the y axis at a lower position than the previous one (0,1), that is y=1 when x = 0. This info gives us what the y-intercepts of the equations should be (the constant number that adds to the term in x in the equations: in the left section of the graph, the equation should have "x+2", while for the right section of the graph, the equation should have x+1.
It is also important to understand that the "solid" dot that is located in the region where the domain changes, (x=2) belongs to the domain on the right hand side of the graph, So, we are looking for a function definition that contains for the function, for the domain:
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Such definition is the one given last (bottom right) in your answer options.