karl has $400 in a savings account. the interest rate is 10%, compounded annually. what type of model best fits this situation?
1 answer:
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The fraction can simplify down to 
convert it to a fraction and the yearly increase is 1.5%
2. Well on average there are 365 days in a year. Dividing 93 million by 365 will get your increase per day.
There are 24 hours in a day, so that figure is further divided by 24.
There are also 60 minutes in an hour therefore furthermore divided by 60.
= 176 therefore true
2. Well on average there are 365 days in a year. Dividing 93 million by 365 will get your increase per day.
There are 24 hours in a day, so that figure is further divided by 24.
There are also 60 minutes in an hour therefore furthermore divided by 60.
= 176 therefore true