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Answer:
The exponential function is .
You will have $1,100.55 in the account after 2 years.
Step-by-step explanation:
Compound interest:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Deposit $1000 in a savings account that pays 4.8% interest compounded monthly.
This means that . So
This is the exponential function
How much will you have in your account after 2 years?
This is A(2). So
You will have $1,100.55 in the account after 2 years.
<h2>Answer: y = - ¹/₂ x OR y - 1 = - ¹/₂ (x + 2) </h2><h3>Step-by-step explanation: </h3>
For us to write the equation for this line, we need to (1) find the slope of the line, and (2) use one of the points to write an equation:
The question gives us two points, (-2, 1) and (-8, 4), from which we can find the slope and later the equation of the line.
<u>Finding the Slope </u>
The slope of the line (m) = (y₂ - y₁) ÷ (x₂ - x₁)
= (4 - 1) ÷ (-8 - (-2))
= - ¹/₂
<u>Finding the Equation</u>
We can now use the point-slope form (y - y₁) = m(x - x₁)) to write the equation for this line:
⇒ y - 1 = - ¹/₂ (x - (-2))
∴ y - 1 = - ¹/₂ (x + 2)
we could also transform this into the slope-intercept form ( y = mx + c)
since y - 1 = - ¹/₂ (x + 2)
⇒ y = - ¹/₂ x
<em>To test my answer, I have included a Desmos Graph that I graphed using the information provided in the question and my answer.</em>