Please Help 15 points! Emergency!
2 answers:
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Answer:
a) f(t) = 8000(1.015^t)
Step-by-step explanation:
The growth factor is 1 more than the growth rate. Here, the growth rate is 1.5%, so the growth factor is 1 + 0.015 = 1.015. This is the base of the exponential term. Each year that passes causes the balance to be multiplied by this factor, so the exponent is the number of passing years.
f(t) = 8000(1.015^t)
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