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The average rate of a function f(x) over an interval x = a and x = b is given by:
Given the function
The average rate of change from x = 1 to x = 2 is given by:
Given the function
The average rate of change from x = 1 to x = 2 is given by:
Answer:
f(t) = 101,234
Step-by-step explanation:
First, use FV formula to find the rate ;r given PV=101,234 and FV=104,271.02 and time= 1 year
104,271.02 = 101,234
Divide both sides by 101,234 to get;
104,271.02 / 101,234 = 1+r
1.03 = 1+r
1.03 -1 =r
therefore r= 0.03 or 3%
Next, to get the function of FV of estate after t years; f(t) ;
Plug in the 3% rate found above into the FV formula with PV being the current value of 101,234 and it becomes;
f(t) = 101,234